Needham & Company LLC Cuts Endava (NYSE:DAVA) Price Target to $38.00

Endava (NYSE:DAVA) had its target price cut by Needham & Company LLC from $43.00 to $38.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently commented on DAVA. Bank of America assumed coverage on Endava in a research report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 target price on the stock. Morgan Stanley raised their target price on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. TD Cowen boosted 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. Citigroup cut their target price 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. Finally, Guggenheim reduced their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Endava has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Trading Down 7.9 %

Endava stock opened at $26.06 on Friday. Endava has a 1 year low of $23.28 and a 1 year high of $68.58. The firm’s 50-day moving average is $31.65 and its 200-day moving average is $29.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market cap of $1.54 billion, a P/E ratio of 236.91, a PEG ratio of 2.26 and a beta of 1.22.

Endava (NYSE:DAVA) last issued its earnings results on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.18). The company had revenue of $250.63 million during the quarter, compared to analyst estimates of $197.33 million. Endava had a return on equity of 0.89% and a net margin of 0.74%. On average, equities analysts expect that Endava will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Endava

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAVA. Mawer Investment Management Ltd. grew its holdings 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. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of Endava by 8.7% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company’s stock worth $6,279,000 after acquiring an additional 19,669 shares during the last quarter. State Street Corp increased its position in Endava by 33.0% during the third quarter. State Street Corp now owns 80,148 shares of the company’s stock worth $2,047,000 after acquiring an additional 19,884 shares during the period. Horrell Capital Management Inc. raised its stake in Endava by 76.5% during the 3rd quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company’s stock valued at $3,831,000 after purchasing an additional 65,000 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in Endava by 13.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company’s stock valued at $6,313,000 after purchasing an additional 25,000 shares during the period. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.