Endava (NYSE:DAVA) Lifted to Buy at HSBC

HSBC upgraded shares of Endava (NYSE:DAVA) from a hold rating to a buy rating in a report issued on Wednesday, Marketbeat reports. The brokerage currently has $45.00 price target on the stock.

DAVA has been the subject of several other research reports. JPMorgan Chase & Co. raised shares of Endava from a neutral rating to an overweight rating and set a $49.00 price objective for the company in a research note on Tuesday, March 19th. Morgan Stanley restated an equal weight rating and issued a $40.00 price target on shares of Endava in a research report on Monday, April 22nd. Guggenheim started coverage on shares of Endava in a research note on Tuesday, March 19th. They set a buy rating and a $60.00 target price on the stock. Citigroup cut their target price on shares of Endava from $40.00 to $33.00 and set a neutral rating on the stock in a research note on Monday, April 22nd. Finally, TD Cowen cut their target price on shares of Endava from $85.00 to $52.00 and set an outperform rating on the stock in a research note on Friday, March 1st. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $51.00.

Endava Trading Down 1.0 %

Shares of Endava stock opened at $30.83 on Wednesday. The company has a 50 day moving average of $36.25 and a 200-day moving average of $56.44. Endava has a 1-year low of $28.99 and a 1-year high of $81.06. The company has a market cap of $1.78 billion, a PE ratio of 21.26 and a beta of 1.14.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The company had revenue of $227.96 million during the quarter, compared to the consensus estimate of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. Research analysts forecast that Endava will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On Endava

Several large investors have recently modified their holdings of DAVA. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Endava during the third quarter valued at approximately $58,433,000. Fourth Sail Capital LP bought a new stake in shares of Endava in the 1st quarter worth approximately $27,622,000. Invesco Ltd. lifted its holdings in shares of Endava by 156.5% in the 3rd quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock worth $49,669,000 after acquiring an additional 528,384 shares during the last quarter. Capital World Investors lifted its holdings in shares of Endava by 39.3% in the 4th quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after acquiring an additional 278,300 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Endava by 16.5% in the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after buying an additional 256,250 shares during the period. 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.