Endava (NYSE:DAVA) Raised to Hold at Zacks Research

Endava (NYSE:DAVA) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut Endava from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $9.00 to $5.00 in a research report on Friday, May 22nd. TD Cowen reduced their price target on shares of Endava from $4.00 to $3.50 and set a “hold” rating for the company in a research report on Thursday, July 9th. Needham & Company LLC lowered their price objective on shares of Endava from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, May 21st. CLSA set a $5.00 price objective on shares of Endava in a report on Friday, May 22nd. Finally, Weiss Ratings lowered shares of Endava from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $5.50.

Endava Stock Down 1.6%

Shares of Endava stock opened at $2.73 on Monday. The company has a market cap of $153.73 million, a price-to-earnings ratio of -0.26 and a beta of 1.05. The company’s 50 day moving average is $3.03 and its 200 day moving average is $4.43. Endava has a twelve month low of $2.55 and a twelve month high of $15.20. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 1.13.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, May 21st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.20). The company had revenue of $236.44 million during the quarter, compared to the consensus estimate of $242.79 million. Endava had a positive return on equity of 2.48% and a negative net margin of 57.01%.Endava has set its Q4 2026 guidance at 0.120-0.180 EPS and its FY 2026 guidance at 0.610-0.660 EPS. Research analysts anticipate that Endava will post 0.15 EPS for the current year.

Institutional Trading of Endava

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in Endava by 16.1% in the 1st quarter. Jane Street Group LLC now owns 10,682 shares of the company’s stock worth $208,000 after purchasing an additional 1,482 shares in the last quarter. Geode Capital Management LLC purchased a new stake in Endava during the 2nd quarter valued at approximately $205,000. Invesco Ltd. raised its position in shares of Endava by 6.4% during the second quarter. Invesco Ltd. now owns 3,661,123 shares of the company’s stock valued at $56,088,000 after buying an additional 220,465 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Endava by 733.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock valued at $29,000 after buying an additional 1,680 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Endava by 14.7% in the second quarter. Daiwa Securities Group Inc. now owns 105,048 shares of the company’s stock worth $1,609,000 after buying an additional 13,490 shares in the last quarter. 62.23% of the stock is owned by hedge funds and other institutional investors.

About Endava

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.