Endava (NYSE:DAVA) Price Target Lowered to $33.00 at Needham & Company LLC

Endava (NYSE:DAVA) had its price target lowered by research analysts at Needham & Company LLC from $42.00 to $33.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 19.44% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Redburn Atlantic assumed coverage on shares of Endava in a research note on Friday, May 24th. They issued a “neutral” rating and a $33.10 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. TD Cowen decreased their price objective on shares of Endava from $46.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 24th. Guggenheim decreased their price objective on shares of Endava from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday. Finally, Wedbush decreased their price objective on shares of Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $45.11.

Endava Stock Performance

Shares of NYSE DAVA opened at $27.63 on Friday. The firm’s 50 day moving average price is $30.67 and its 200-day moving average price is $31.07. The company has a market cap of $1.60 billion, a PE ratio of 30.70 and a beta of 1.22. Endava has a 52-week low of $24.51 and a 52-week high of $81.06.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE boosted its holdings in shares of Endava by 2,113.9% in the 4th quarter. US Bancorp DE now owns 16,427 shares of the company’s stock valued at $1,279,000 after buying an additional 15,685 shares in the last quarter. George Kaiser Family Foundation bought a new stake in shares of Endava in the 1st quarter valued at about $1,136,000. SG Americas Securities LLC bought a new stake in shares of Endava in the 1st quarter valued at about $832,000. Neuberger Berman Group LLC bought a new stake in shares of Endava in the 4th quarter valued at about $1,837,000. Finally, Advisory Services Network LLC boosted its stake in Endava by 51.8% in the 4th quarter. Advisory Services Network LLC now owns 5,749 shares of the company’s stock worth $448,000 after purchasing an additional 1,963 shares in the last quarter. 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.