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

Endava (NYSE:DAVA)‘s stock had its “equal weight” rating restated by investment analysts at Morgan Stanley in a research report issued on Monday, Benzinga reports. They presently have a $40.00 target price on the stock. Morgan Stanley’s target price suggests a potential upside of 32.01% from the company’s previous close.

Several other research firms have also recently commented on DAVA. Guggenheim initiated coverage on shares of Endava in a report on Tuesday, March 19th. They set a “buy” rating and a $60.00 price target for the company. TD Cowen cut their price target on Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. JPMorgan Chase & Co. raised Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price target for the company in a report on Tuesday, March 19th. Needham & Company LLC dropped their price objective on Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Finally, HSBC cut 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 research note on Monday, January 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Endava presently has a consensus rating of “Moderate Buy” and an average price target of $55.56.

Endava Trading Up 2.2 %

Shares of NYSE DAVA opened at $30.30 on Monday. The stock has a market cap of $1.75 billion, a P/E ratio of 20.90 and a beta of 1.10. The business’s fifty day simple moving average is $42.12 and its 200-day simple moving average is $58.01. Endava has a 12-month low of $29.54 and a 12-month high of $81.06.

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

Institutional Investors Weigh In On Endava

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. increased its holdings in shares of Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares during the period. Signaturefd LLC grew its position in Endava by 194.9% during the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after purchasing an additional 762 shares during the last quarter. Global Retirement Partners LLC increased its stake in Endava by 41.8% in the third quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock valued at $69,000 after purchasing an additional 364 shares during the period. Financial Management Professionals Inc. acquired a new position in Endava in the fourth quarter valued at $81,000. Finally, Principal Securities Inc. purchased a new stake in shares of Endava in the fourth quarter valued at about $99,000. Hedge funds and other institutional investors own 62.23% of the company’s stock.

About Endava

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.