Endava plc (NYSE:DAVA) Receives $46.41 Average Price Target from Brokerages

Shares of Endava plc (NYSE:DAVA) have earned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $46.41.

DAVA has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on shares of Endava in a research report on Friday, May 24th. They set a “neutral” rating and a $33.10 price target on the stock. Wedbush lowered their price target on shares of Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. lowered their price target on shares of Endava from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Needham & Company LLC reduced their target price on shares of Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $40.00 target price on shares of Endava in a research note on Monday, April 22nd.

Institutional Investors Weigh In On Endava

A number of institutional investors and hedge funds have recently made changes to their positions in DAVA. Assetmark Inc. raised its stake in shares of Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares during the period. Headlands Technologies LLC purchased a new stake in Endava during the 1st quarter worth approximately $49,000. Financial Management Professionals Inc. purchased a new stake in Endava during the 4th quarter worth approximately $81,000. Principal Securities Inc. purchased a new stake in Endava during the 4th quarter worth approximately $99,000. Finally, Quadrant Capital Group LLC increased its stake in Endava by 34.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock worth $111,000 after buying an additional 368 shares during the period. 62.23% of the stock is owned by hedge funds and other institutional investors.

Endava Stock Up 2.8 %

Shares of NYSE DAVA opened at $29.24 on Friday. The company’s 50-day simple moving average is $28.66 and its 200-day simple moving average is $47.73. Endava has a 52-week low of $24.51 and a 52-week high of $81.06. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 32.49 and a beta of 1.21.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.10). The company had revenue of $221.14 million during the quarter, compared to analyst estimates of $220.59 million. Endava had a net margin of 5.69% and a return on equity of 7.13%. Equities research analysts anticipate that Endava will post 0.51 EPS for the current fiscal year.

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.