Endava (NYSE:DAVA) Given New $38.00 Price Target at Needham & Company LLC

Endava (NYSE:DAVA - Get Free Report) had its target price cut by research analysts at Needham & Company LLC from $43.00 to $38.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price target suggests a potential upside of 50.55% from the company's previous close.

Several other analysts have also recently issued reports on the stock. TD Cowen boosted their price objective on shares of Endava from $35.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Morgan Stanley raised their price objective on Endava from $33.00 to $35.00 and gave the stock an "equal weight" rating in a report on Friday, January 31st. Citigroup decreased their target price on Endava from $30.00 to $27.00 and set a "neutral" rating for the company in a report on Monday, October 28th. 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. Finally, Bank of America initiated coverage on shares of Endava in a research note on Friday, November 22nd. They issued a "neutral" rating and a $29.00 target price on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Endava currently has a consensus rating of "Moderate Buy" and an average target price of $39.10.

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Endava Trading Down 3.1 %

DAVA traded down $0.80 during trading on Friday, hitting $25.24. The company's stock had a trading volume of 457,832 shares, compared to its average volume of 386,174. Endava has a twelve month low of $23.28 and a twelve month high of $67.14. The firm's 50 day moving average price is $31.56 and its 200-day moving average price is $29.25. 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 has a market cap of $1.49 billion, a PE ratio of 229.45, a PEG ratio of 2.26 and a beta of 1.22.

Endava (NYSE:DAVA - Get Free Report) last released 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). Endava had a return on equity of 0.89% and a net margin of 0.74%. The business had revenue of $250.63 million for the quarter, compared to analysts' expectations of $197.33 million. On average, analysts expect that Endava will post 0.57 earnings per share for the current year.

Institutional Trading of Endava

Several institutional investors have recently added to or reduced their stakes in DAVA. Blue Trust Inc. lifted its position in shares of Endava by 28.5% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company's stock worth $46,000 after purchasing an additional 331 shares during the last quarter. Precision Wealth Strategies LLC increased its holdings in shares of Endava by 4.5% in the 4th quarter. Precision Wealth Strategies LLC now owns 8,954 shares of the company's stock valued at $277,000 after acquiring an additional 383 shares during the last quarter. Assetmark Inc. raised its position in shares of Endava by 93.1% during the 4th quarter. Assetmark Inc. now owns 985 shares of the company's stock valued at $30,000 after acquiring an additional 475 shares in the last quarter. GAMMA Investing LLC lifted its stake in Endava by 86.4% during the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company's stock worth $50,000 after purchasing an additional 745 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Endava by 114.2% in the fourth quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company's stock worth $46,000 after purchasing an additional 786 shares during the period. 62.23% of the stock is owned by institutional investors and hedge funds.

Endava Company Profile

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.