Endava (NYSE:DAVA) Price Target Lowered to $50.00 at Susquehanna

Endava (NYSE:DAVA) had its price objective reduced by analysts at Susquehanna from $55.00 to $50.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective indicates a potential upside of 85.63% from the company’s previous close.

A number of other analysts have also recently weighed in on DAVA. Needham & Company LLC cut their price target on Endava from $43.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday. Citigroup cut their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Guggenheim decreased their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. TD Cowen raised their price objective on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Morgan Stanley boosted their target price on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.10.

Endava Stock Down 4.8 %

Shares of DAVA stock traded down $1.37 during trading on Friday, reaching $26.94. The company’s stock had a trading volume of 147,380 shares, compared to its average volume of 349,025. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 192.39, a P/E/G ratio of 2.44 and a beta of 1.22. Endava has a 1-year low of $23.28 and a 1-year high of $68.58. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The stock’s 50-day moving average price is $31.72 and its 200 day moving average price is $29.30.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.18). The business had revenue of $250.63 million during the quarter, compared to analyst estimates of $197.33 million. Endava had a return on equity of 1.10% and a net margin of 0.92%. On average, research analysts anticipate that Endava will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DAVA. Mawer Investment Management Ltd. grew its position in Endava by 613.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after buying an additional 1,030,403 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Endava by 22.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock valued at $140,073,000 after acquiring an additional 842,433 shares in the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Endava by 80.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock worth $55,807,000 after acquiring an additional 805,903 shares during the period. JPMorgan Chase & Co. raised its holdings in Endava by 187.5% during the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company’s stock worth $26,540,000 after purchasing an additional 560,190 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Endava in the fourth quarter valued at about $14,698,000. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

About Endava

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in North America, Europe, the United Kingdom, and internationally. It offers ideation and production services in the payments and financial services, telecommunications, media, and technology verticals; and business analysis, data analytics, program management, digital product strategy, private equity value enhancement, IT strategy, architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.