Bank of America Initiates Coverage on Endava (NYSE:DAVA)

Investment analysts at Bank of America assumed coverage on shares of Endava (NYSE:DAVA) in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm set a “neutral” rating and a $29.00 price target on the stock. Bank of America‘s target price points to a potential upside of 1.15% from the company’s current price.

A number of other analysts also recently issued reports on DAVA. TD Cowen lifted their price objective on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC upped their price objective on Endava from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Citigroup reduced their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their target price on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Finally, Guggenheim reduced their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.83.

Endava Price Performance

Endava stock opened at $28.67 on Friday. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of 205.00 and a beta of 1.21. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The business has a 50-day simple moving average of $26.15 and a 200 day simple moving average of $28.39. Endava has a 52 week low of $23.28 and a 52 week high of $81.06.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.13). The business had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $248.65 million. Endava had a return on equity of 1.10% and a net margin of 0.92%. On average, research analysts forecast that Endava will post 0.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endava

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new position in shares of Endava in the third quarter valued at about $30,000. Signaturefd LLC grew its stake in shares of Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock worth $50,000 after purchasing an additional 886 shares during the last quarter. Seven Eight Capital LP purchased a new position in Endava during the 2nd quarter valued at about $216,000. Precision Wealth Strategies LLC raised its position in Endava by 6.7% during the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock valued at $219,000 after purchasing an additional 540 shares during the last quarter. Finally, Strengthening Families & Communities LLC lifted its holdings in Endava by 11.4% in the 3rd quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock worth $233,000 after buying an additional 933 shares during the period. 62.23% of the stock is currently owned by 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.