Endava (NYSE:DAVA) Now Covered by Analysts at Redburn Atlantic

Redburn Atlantic started coverage on shares of Endava (NYSE:DAVA) in a research note released on Friday morning, MarketBeat.com reports. The firm issued a neutral rating and a $33.10 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. Wedbush cut their price target on shares of Endava from $65.00 to $50.00 and set an outperform rating for the company in a report on Thursday. Citigroup cut their price target on shares of Endava from $40.00 to $33.00 and set a neutral rating for the company in a report on Monday, April 22nd. Needham & Company LLC cut their price target on shares of Endava from $70.00 to $50.00 and set a buy rating for the company in a report on Friday, March 1st. Guggenheim started coverage on shares of Endava in a report on Tuesday, March 19th. They issued a buy rating and a $60.00 price target for the company. Finally, TD Cowen cut their price target on shares of Endava from $85.00 to $52.00 and set an outperform rating for the company in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $46.41.

Endava Price Performance

DAVA stock opened at $30.03 on Friday. Endava has a 1-year low of $28.13 and a 1-year high of $81.06. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 33.37 and a beta of 1.14. The firm has a fifty day moving average price of $32.62 and a two-hundred day moving average price of $54.09.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Thursday, May 23rd. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). The company had revenue of $221.14 million during the quarter, compared to analyst estimates of $220.59 million. Endava had a return on equity of 7.13% and a net margin of 5.69%. As a group, analysts expect that Endava will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Assetmark Inc. lifted its position in Endava by 47.8% in the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the period. Financial Management Professionals Inc. bought a new position in Endava in the fourth quarter worth $81,000. Signaturefd LLC lifted its position in Endava by 194.9% in the third quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after purchasing an additional 762 shares during the period. Principal Securities Inc. acquired a new position in Endava during the fourth quarter worth $99,000. Finally, Headlands Technologies LLC acquired a new position in Endava during the first quarter worth $49,000. 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.