Endava (NYSE:DAVA) Price Target Cut to $38.00 by Analysts at Needham & Company LLC

Endava (NYSE:DAVA) had its price target lowered by equities research analysts at Needham & Company LLC from $43.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 34.35% from the stock’s previous close.

DAVA has been the subject of a number of other reports. Guggenheim cut their price objective 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. Citigroup cut their target price on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Bank of America started coverage on shares of Endava in a report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price target on the stock. Morgan Stanley raised their price objective on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research report on Friday, January 31st. Finally, TD Cowen boosted their target price on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Endava presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.55.

Endava Price Performance

Shares of NYSE:DAVA opened at $28.28 on Friday. The firm’s 50 day simple moving average is $31.72 and its two-hundred day simple moving average is $29.30. 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 company has a market capitalization of $1.67 billion, a P/E ratio of 202.03, a P/E/G ratio of 2.44 and a beta of 1.22. Endava has a 1-year low of $23.28 and a 1-year high of $68.58.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.14 EPS 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%. Research analysts expect that Endava will post 0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Endava

Several institutional investors have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in shares of Endava by 22.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock valued at $140,073,000 after purchasing an additional 842,433 shares during the last quarter. Invesco Ltd. boosted its stake in Endava by 2.5% during the fourth quarter. Invesco Ltd. now owns 3,276,183 shares of the company’s stock worth $101,234,000 after buying an additional 81,004 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Endava by 7.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,549,317 shares of the company’s stock valued at $78,774,000 after acquiring an additional 171,048 shares during the last quarter. CDAM UK Ltd raised its stake in shares of Endava by 7.8% in the fourth quarter. CDAM UK Ltd now owns 2,348,674 shares of the company’s stock valued at $72,574,000 after acquiring an additional 169,147 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Endava by 80.6% in the 4th quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock worth $55,807,000 after acquiring an additional 805,903 shares during the last quarter. 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.