Endava (NYSE: DAVA – Get a rating) had its price target lowered by Needham & Company LLC equity research analysts from $112.00 to $100.00 in a research note released Wednesday to investors, Target Stock Advisor reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 24.30% from the current stock price.
Other research analysts have also recently published reports on the stock. Wedbush lowered its price target on Endava shares from $120.00 to $90.00 and set an “outperform” rating for the company in a Wednesday, September 28 research note. Deutsche Bank Aktiengesellschaft reduced its price target on Endava shares from $94.00 to $78.00 in a Wednesday, September 28 research note. Morgan Stanley lowered its price target on Endava shares from $130.00 to $95.00 and set an “overweight” rating for the company in a Wednesday, September 28 research note. Susquehanna lowered its price target on Endava shares from $150.00 to $110.00 in a Wednesday, September 28 research note. Finally, KeyCorp began covering Endava shares in a research note on Monday, September 12. They issued a “sector weight” rating for the company. One equity research analyst rated the stock with a hold rating and six gave the company a buy rating. According to data from MarketBeat.com, the company currently has an average “Moderate Buy” rating and an average target price of $104.78.
Endava stock up 15.6%
Action Endava opened at $80.45 on Wednesday. Endava has a 52-week low of $61.55 and a 52-week high of $170.88. The company has a fifty-day moving average of $75.89 and a 200-day moving average of $90.44. The company has a market capitalization of $4.48 billion, a P/E ratio of 41.90 and a beta of 1.21.
Endava (NYSE: DAVA – Get a rating) last released its quarterly earnings data on Tuesday, September 27. The company reported earnings per share (EPS) of $0.59 for the quarter, beating the consensus estimate of $0.40 by $0.19. Endava had a net margin of 12.64% and a return on equity of 21.48%. The company posted revenue of $226.82 million in the quarter, compared to analyst estimates of $219.99 million. On average, research analysts expect Endava to post EPS of 1.78 for the current fiscal year.
Institutional entries and exits
Major investors have recently changed their stake in the company. Trustments Capital LLC bought a new position in shares of Endava in Q2 for a value of approximately $41,000. Tower Research Capital LLC TRC increased its position in Endava shares by 433.3% in the third quarter. Tower Research Capital LLC TRC now owns 480 shares of the company worth $39,000 after purchasing an additional 390 shares in the last quarter. Castle Wealth Management LLC bought a new position in shares of Endava in the 2nd quarter for a value of approximately $52,000. Quantbot Technologies LP acquired a new equity stake in Endava in Q1 worth approximately $88,000. Finally, Harbor Investment Advisory LLC increased its stake in Endava shares by 23.2% in the 2nd quarter. Harbor Investment Advisory LLC now owns 766 shares of the company worth $68,000 after acquiring an additional 144 shares during the period. 52.49% of the shares are currently held by institutional investors.
Endava Company Profile
Endava plc provides technology services to clients in the consumer products, healthcare, mobility and retail verticals in Europe, Latin America, North America and internationally. The company offers technology and digital consulting services for the payments and financial services, and TMT sectors; IT strategies; business analysis services; program management services; digital product strategy services; and architecture, extended reality, machine learning and artificial intelligence, product design, user experience and visual design services.
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