Endava (NYSE:DAVA) Price Target Lowered to $50.00 at Susquehanna

Endava (NYSE:DAVA) had its price objective reduced by Susquehanna from $55.00 to $50.00 in a research note published on Friday,Benzinga reports. They currently have a positive rating on the stock.

Other research analysts also recently issued reports about the stock. Citigroup cut their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 28th. Bank of America initiated coverage on shares of Endava in a report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price target for the company. Guggenheim cut their price target on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. Needham & Company LLC cut their price target on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a report on Friday. Finally, Morgan Stanley raised their price target on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.10.

Endava Stock 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 has a market capitalization of $1.54 billion, a price-to-earnings ratio of 186.14, a P/E/G ratio of 2.44 and a beta of 1.22. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $31.65 and a 200 day simple moving average of $29.27.

Endava (NYSE:DAVA) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). Endava had a net margin of 0.92% and a return on equity of 1.10%. The business had revenue of $250.63 million during the quarter, compared to analysts’ expectations of $197.33 million. On average, analysts predict that Endava will post 0.57 earnings per share for the current year.

Institutional Trading of Endava

Hedge funds have recently made changes to their positions in the stock. Mawer Investment Management Ltd. lifted its stake in Endava by 613.0% in the third quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock worth $30,610,000 after purchasing an additional 1,030,403 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Endava by 22.8% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock worth $140,073,000 after purchasing an additional 842,433 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock worth $55,807,000 after purchasing an additional 805,903 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Endava by 187.5% in the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company’s stock worth $26,540,000 after purchasing an additional 560,190 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Endava in the fourth quarter worth $14,698,000. 62.23% of the stock is owned by institutional investors.

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.