Endava (NYSE:DAVA) Price Target Cut to $33.00

Endava (NYSE:DAVA) had its target price dropped by investment analysts at Citigroup from $40.00 to $33.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 8.91% from the stock’s previous close.

Several other equities research analysts have also recently commented on DAVA. Needham & Company LLC cut their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. TD Cowen reduced their price target on Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Guggenheim initiated coverage on Endava in a research report on Tuesday, March 19th. They set a “buy” rating and a $60.00 price target on the stock. Morgan Stanley downgraded Endava from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $68.00 to $80.00 in a report on Wednesday, January 24th. Finally, HSBC downgraded shares of Endava from a “buy” rating to a “hold” rating and boosted their target price for the stock from $68.00 to $80.00 in a report on Monday, January 8th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.56.

Endava Price Performance

Shares of Endava stock opened at $30.30 on Monday. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 20.90 and a beta of 1.10. The stock’s 50-day moving average is $42.12 and its 200-day moving average is $58.01. Endava has a one year low of $29.54 and a one year high of $81.06.

Endava (NYSE:DAVA) last released its earnings results on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm 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%. On average, equities analysts expect that Endava will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Assetmark Inc. lifted its holdings in shares of Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after buying an additional 165 shares in the last quarter. Signaturefd LLC grew its stake in shares of Endava by 194.9% in the third quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock valued at $66,000 after acquiring an additional 762 shares in the last quarter. Global Retirement Partners LLC increased its position in Endava by 41.8% during the third quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock worth $69,000 after acquiring an additional 364 shares during the period. Financial Management Professionals Inc. acquired a new stake in Endava in the 4th quarter worth about $81,000. Finally, Principal Securities Inc. bought a new stake in Endava in the 4th quarter valued at about $99,000. 62.23% of the stock is owned by institutional investors.

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.