Endava (NYSE:DAVA) Coverage Dropped by Analysts at Needham & Company LLC

Investment analysts at Needham & Company LLC dropped coverage on shares of Endava (NYSE:DAVA) in a note issued to investors on Monday, October 12th, Benzinga reports. The brokerage had previously set a “buy” rating on the stock. Needham & Company LLC‘s price objective points to a potential upside of 191.55% from the stock’s current price.

A number of other analysts also recently weighed in on the company. TD Cowen restated a “hold” rating and issued a $3.50 price target on shares of Endava in a research note on Tuesday, September 22nd. Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. Weiss Ratings reissued a “sell (e+)” rating on shares of Endava in a research note on Tuesday, September 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Endava from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Tuesday, September 22nd. Finally, William Blair lowered Endava from a “market perform” rating to an “underperform” rating in a research report on Tuesday, September 22nd. Five equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $5.42.

Endava Stock Performance

DAVA stock traded down $0.24 on Monday, hitting $1.72. The company had a trading volume of 559,866 shares, compared to its average volume of 395,044. Endava has a 12-month low of $1.60 and a 12-month high of $9.75. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.13. The stock’s 50-day simple moving average is $2.48 and its 200 day simple moving average is $3.76. The stock has a market cap of $96.40 million, a price-to-earnings ratio of -0.16 and a beta of 1.14.

Hedge Funds Weigh In On Endava

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barometer Capital Management Inc. increased its stake in Endava by 32.5% in the 1st quarter. Barometer Capital Management Inc. now owns 106,300 shares of the company’s stock valued at $470,000 after buying an additional 26,080 shares during the last quarter. SmartHarvest Portfolios LLC bought a new stake in Endava during the 1st quarter valued at $84,000. Finally, Alpine Global Management LLC acquired a new position in Endava in the fourth quarter valued at approximately $87,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Endava

Here are the key news stories impacting Endava this week:

• Neutral Sentiment: Several law firms reminded investors that November 30, 2026 is the deadline to seek lead-plaintiff status in a previously filed securities class action covering purchases made between September 4, 2025, and September 21, 2026. The notices are largely procedural, but add continued visibility to Endava’s legal overhang. Deadline Alert: Endava plc Investors Have Until November 30, 2026 to Seek Lead Plaintiff Role
• Negative Sentiment: Endava announced management resignations and chief executive changes while also providing an update on an audit committee investigation. The leadership turnover and ongoing review increase uncertainty regarding governance, internal controls and the company’s financial reporting. Endava Provides Update on Audit Committee Investigation
• Negative Sentiment: Reports indicate Endava flagged revenue adjustments and withdrew its fiscal 2026 guidance. The lack of reliable forward expectations and potential revisions to previously reported revenue are significant negatives for investors. Endava flags revenue adjustments, withdraws FY2026 guidance
• Negative Sentiment: Multiple investor-rights firms announced or promoted securities class actions alleging that Endava failed to disclose material adverse facts and potential accounting problems. The litigation follows the company’s previously reported management and financial-reporting disclosures, potentially creating legal costs, damages exposure and further reputational risk. Endava Facing Securities Class Action Amid Delayed Financials and Potential Improper Accounting

About Endava

Endava plc (NYSE: DAVA) is a technology services company that helps organizations design, develop and modernize digital products, platforms and business processes. Its services include technology consulting, software engineering, cloud and infrastructure solutions, data and analytics, artificial intelligence, digital product development, and quality assurance and testing.

The company works with clients across industries including payments, banking and capital markets, insurance, telecommunications, media and technology, healthcare, mobility, and consumer products.