Endava (NYSE:DAVA) Earns “Buy” Rating from Needham & Company LLC

Endava (NYSE:DAVA)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $5.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 152.65% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. William Blair cut shares of Endava from a “market perform” rating to an “underperform” rating in a research note on Tuesday, September 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Endava in a research note on Tuesday, September 8th. Zacks Research raised shares of Endava from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th. TD Cowen reiterated a “hold” rating and issued a $3.50 price objective on shares of Endava in a research note on Tuesday, September 22nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Endava from $3.00 to $2.00 and set a “hold” rating for the company in a report on Tuesday, September 22nd. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $5.36.

Endava Stock Down 0.6%

DAVA stock traded down $0.01 during mid-day trading on Monday, reaching $1.98. 52,961 shares of the company traded hands, compared to its average volume of 403,188. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 1.13. The firm’s 50 day moving average price is $2.67 and its 200 day moving average price is $3.20. The stock has a market cap of $111.24 million, a price-to-earnings ratio of -0.19 and a beta of 1.14. Endava has a fifty-two week low of $1.60 and a fifty-two week high of $9.88.

Institutional Inflows and Outflows

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

Endava Company Profile

Endava plc is a technology services company that helps organizations design, develop and modernize digital products, platforms and business operations. Its services include digital strategy, software engineering, cloud and enterprise technology, data and artificial intelligence, customer experience, and technology consulting.

The company works with clients across industries including payments and financial services, telecommunications, media and technology, mobility, healthcare, retail and consumer products.