Brokerages Set Endava plc (NYSE:DAVA) Price Target at $51.00

Endava plc (NYSE:DAVA) has earned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $51.00.

Several research analysts recently issued reports on DAVA shares. JPMorgan Chase & Co. cut their price target on shares of Endava from $49.00 to $43.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. TD Cowen reduced their price target on Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, March 1st. HSBC raised Endava from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a report on Wednesday, May 1st. Needham & Company LLC reduced their target price on Endava from $70.00 to $50.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Guggenheim began coverage on shares of Endava in a research report on Tuesday, March 19th. They set a “buy” rating and a $60.00 target price on the stock.

Endava Trading Up 4.1 %

Shares of DAVA stock opened at $32.18 on Friday. The company has a market capitalization of $1.86 billion, a P/E ratio of 22.19 and a beta of 1.14. The business’s 50 day moving average is $35.59 and its two-hundred day moving average is $56.23. Endava has a twelve month low of $28.99 and a twelve month high of $81.06.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $227.96 million during the quarter, compared to analysts’ expectations of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. As a group, equities analysts predict that Endava will post 0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Redwood Investments LLC raised its position in shares of Endava by 666.2% during the 4th quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock worth $3,149,000 after purchasing an additional 35,175 shares during the last quarter. Simon Quick Advisors LLC purchased a new position in Endava during the fourth quarter worth $5,074,000. Adage Capital Partners GP L.L.C. increased its position in Endava by 76.9% during the third quarter. Adage Capital Partners GP L.L.C. now owns 115,000 shares of the company’s stock worth $6,595,000 after buying an additional 50,000 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Endava in the third quarter worth $280,000. Finally, FMR LLC lifted its position in shares of Endava by 16.5% in the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock valued at $103,650,000 after acquiring an additional 256,250 shares in the last quarter. Hedge funds and other 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.