Needham & Company LLC Boosts Endava (NYSE:DAVA) Price Target to $36.00

Endava (NYSE:DAVA) had its target price raised by Needham & Company LLC from $33.00 to $36.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued research reports about the company. Citigroup lowered their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Guggenheim dropped 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. 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 research report on Friday, September 6th. Susquehanna dropped their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a report on Friday, September 20th. Finally, TD Cowen boosted their price target on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Endava presently has an average rating of “Moderate Buy” and a consensus price target of $40.91.

Endava Trading Down 5.0 %

Shares of DAVA stock traded down $1.41 on Thursday, hitting $26.85. 264,155 shares of the company’s stock traded hands, compared to its average volume of 537,284. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 201.79 and a beta of 1.21. The company’s fifty day simple moving average is $26.76 and its 200 day simple moving average is $28.54. Endava has a one year low of $23.28 and a one year high of $81.06. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.74 and a current ratio of 1.90.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). Endava had a net margin of 0.92% and a return on equity of 1.10%. The company had revenue of $245.30 million for the quarter, compared to the consensus estimate of $248.65 million. Equities analysts forecast that Endava will post 0.77 EPS for the current year.

Hedge Funds Weigh In On Endava

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. purchased a new stake in shares of Endava in the 3rd quarter worth approximately $30,000. Headlands Technologies LLC purchased a new stake in shares of Endava in the first quarter worth $49,000. Signaturefd LLC increased its holdings in shares of Endava by 84.1% during the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after acquiring an additional 886 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Endava in the 2nd quarter worth about $216,000. Finally, Precision Wealth Strategies LLC boosted its stake in Endava by 6.7% in the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after purchasing an additional 540 shares in the last quarter. Institutional investors own 62.23% of the company’s stock.

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.