Guggenheim Lowers Endava (NYSE:DAVA) Price Target to $28.00

Endava (NYSE:DAVA) had its target price dropped by stock analysts at Guggenheim from $40.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective indicates a potential upside of 79.49% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC dropped their price target on shares of Endava from $43.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Susquehanna dropped their target price on Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Finally, Morgan Stanley raised their price target on Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.31.

Endava Trading Down 27.1%

Shares of NYSE DAVA opened at $15.60 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. Endava has a one year low of $14.50 and a one year high of $34.94. The business has a 50-day moving average price of $19.26 and a two-hundred day moving average price of $25.85. The firm has a market capitalization of $920.88 million, a PE ratio of 141.82, a PEG ratio of 2.26 and a beta of 1.25.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.06). Endava had a return on equity of 0.89% and a net margin of 0.74%. As a group, analysts predict that Endava will post 0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Endava by 36.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company’s stock valued at $120,939,000 after purchasing an additional 1,665,735 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Endava by 23.5% in the first quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company’s stock worth $72,000 after buying an additional 689 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Endava during the 1st quarter worth $25,000. Raymond James Financial Inc. grew its stake in Endava by 15.4% in the 1st quarter. Raymond James Financial Inc. now owns 548,963 shares of the company’s stock valued at $10,710,000 after buying an additional 73,300 shares during the last quarter. Finally, Alliance Wealth Advisors LLC UT raised its holdings in Endava by 99.9% in the 1st quarter. Alliance Wealth Advisors LLC UT now owns 14,385 shares of the company’s stock worth $281,000 after acquiring an additional 7,189 shares during the period. 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.