Endava (NYSE:DAVA) Price Target Cut to $55.00 by Analysts at Susquehanna

Endava (NYSE:DAVA) had its target price lowered by research analysts at Susquehanna from $66.00 to $55.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price target points to a potential upside of 102.95% from the company’s current price.

A number of other research analysts have also weighed in on DAVA. Needham & Company LLC cut their target price on shares of Endava from $42.00 to $33.00 and set a “buy” rating for the company in a research report on Friday. Guggenheim dropped their target price on shares of Endava from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Monday. Redburn Atlantic assumed coverage on shares of Endava in a report on Friday, May 24th. They set a “neutral” rating and a $33.10 target price for the company. JPMorgan Chase & Co. increased their price target on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, Wedbush dropped their target price on Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.31.

Endava Stock Performance

Shares of DAVA stock traded down $0.56 on Friday, reaching $27.10. 125,704 shares of the company’s stock traded hands, compared to its average volume of 529,943. Endava has a 12-month low of $24.51 and a 12-month high of $81.06. The company has a market capitalization of $1.57 billion, a P/E ratio of 30.11 and a beta of 1.22. The business’s 50 day moving average price is $30.67 and its two-hundred day moving average price is $31.07.

Hedge Funds Weigh In On Endava

Several large investors have recently modified their holdings of DAVA. Sanctuary Advisors LLC bought a new stake in Endava during the second quarter valued at $263,000. Point72 Asset Management L.P. bought a new position in shares of Endava in the 2nd quarter worth about $1,835,000. Millennium Management LLC boosted its holdings in Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock worth $16,697,000 after acquiring an additional 223,964 shares in the last quarter. Squarepoint Ops LLC lifted its position in Endava by 36.5% in the 2nd quarter. Squarepoint Ops LLC now owns 10,322 shares of the company’s stock valued at $302,000 after acquiring an additional 2,759 shares in the last quarter. Finally, 272 Capital LP grew its stake in shares of Endava by 157.4% in the second quarter. 272 Capital LP now owns 56,628 shares of the company’s stock worth $1,656,000 after acquiring an additional 34,628 shares during the period. Hedge funds and other institutional investors own 62.23% of the company’s stock.

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.