Endava (NYSE:DAVA) Receives Equal Weight Rating from Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Endava (NYSE:DAVAFree Report) in a research note issued to investors on Monday, Benzinga reports. They currently have a $40.00 price target on the stock.

A number of other analysts also recently weighed in on DAVA. Citigroup cut their target price on Endava from $40.00 to $33.00 and set a neutral rating for the company in a research report on Monday. HSBC downgraded shares of Endava from a buy rating to a hold rating and increased their price objective for the stock from $68.00 to $80.00 in a research note on Monday, January 8th. Needham & Company LLC dropped their target price on shares of Endava from $70.00 to $50.00 and set a buy rating for the company in a research report on Friday, March 1st. TD Cowen reduced their price target on shares of Endava from $85.00 to $52.00 and set an outperform rating on the stock in a research report on Friday, March 1st. Finally, JPMorgan Chase & Co. upgraded shares of Endava from a neutral rating to an overweight rating and set a $49.00 price objective for the company in a research report on Tuesday, March 19th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Endava currently has an average rating of Moderate Buy and a consensus price target of $55.56.

View Our Latest Research Report on DAVA

Endava Stock Performance

NYSE:DAVA opened at $29.71 on Monday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 20.49 and a beta of 1.10. Endava has a 52 week low of $29.54 and a 52 week high of $81.06. The firm’s 50-day simple moving average is $42.84 and its 200 day simple moving average is $58.21.

Endava (NYSE:DAVAGet Free Report) last announced 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 business had revenue of $227.96 million for the quarter, compared to the consensus estimate of $231.07 million. Endava had a return on equity of 11.77% and a net margin of 8.88%. Sell-side analysts anticipate that Endava will post 0.62 EPS for the current year.

Hedge Funds Weigh In On Endava

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in shares of 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 buying an additional 364 shares in the last quarter. Handelsbanken Fonder AB raised its position in Endava by 62.7% in the third quarter. Handelsbanken Fonder AB now owns 8,300 shares of the company’s stock valued at $476,000 after purchasing an additional 3,200 shares during the last quarter. Manning & Napier Group LLC bought a new position in Endava in the third quarter valued at about $8,436,000. Cambridge Investment Research Advisors Inc. bought a new position in Endava in the third quarter valued at about $817,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Endava by 6.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 191,500 shares of the company’s stock valued at $10,983,000 after purchasing an additional 12,000 shares during the last quarter. Institutional investors own 62.23% of the company’s stock.

About Endava

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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.

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