Needham & Company LLC Cuts Endava (NYSE:DAVA) Price Target to $42.00

Endava (NYSE:DAVA) had its price objective reduced by Needham & Company LLC from $50.00 to $42.00 in a research note published on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

DAVA has been the topic of several other reports. JPMorgan Chase & Co. reduced their price target on Endava from $49.00 to $43.00 and set an overweight rating on the stock in a research report on Thursday, May 2nd. Citigroup reduced their price target on Endava from $40.00 to $33.00 and set a neutral rating on the stock in a research report on Monday, April 22nd. Redburn Atlantic started coverage on Endava in a research report on Friday. They issued a neutral rating and a $33.10 target price on the stock. Wedbush cut their target price on Endava from $65.00 to $50.00 and set an outperform rating on the stock in a research report on Thursday. Finally, Guggenheim started coverage on Endava in a research report on Tuesday, March 19th. They issued a buy rating and a $60.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Endava presently has a consensus rating of Moderate Buy and an average target price of $46.41.

Endava Stock Performance

Endava stock opened at $30.03 on Friday. The stock’s 50 day moving average price is $32.62 and its 200 day moving average price is $54.09. The firm has a market capitalization of $1.73 billion, a PE ratio of 33.37 and a beta of 1.14. Endava has a one year low of $28.13 and a one year high of $81.06.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, May 23rd. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.10). The company had revenue of $221.14 million for 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%. On average, analysts forecast that Endava will post 0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endava

A number of institutional investors have recently made changes to their positions 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 last quarter. Quadrant Capital Group LLC increased its holdings in shares of Endava by 34.8% in the 4th quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after acquiring an additional 368 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Endava by 5.6% in the 1st quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock valued at $353,000 after acquiring an additional 495 shares during the last quarter. Capital International Sarl increased its holdings in shares of Endava by 4.3% in the 4th quarter. Capital International Sarl now owns 16,996 shares of the company’s stock valued at $1,323,000 after acquiring an additional 708 shares during the last quarter. Finally, Signaturefd LLC increased its holdings in shares of Endava by 194.9% in the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock valued at $66,000 after acquiring an additional 762 shares during the last quarter. 62.23% of the stock is currently 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.