Endava plc (NYSE:DAVA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Endava plc (NYSE:DAVA) have received an average rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $46.41.

A number of research analysts have issued reports on the stock. Wedbush reduced their price objective on shares of Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. Morgan Stanley reissued an “equal weight” rating and set a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd. TD Cowen reduced their target price on shares of Endava from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Citigroup reduced their target price on shares of Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Finally, Redburn Atlantic assumed coverage on shares of Endava in a research report on Friday, May 24th. They issued a “neutral” rating and a $33.10 target price on the stock.

Endava Stock Down 0.1 %

Shares of NYSE DAVA opened at $28.45 on Friday. Endava has a 52 week low of $24.51 and a 52 week high of $81.06. The firm’s fifty day moving average is $28.67 and its 200 day moving average is $48.14. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 31.61 and a beta of 1.21.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). The company had revenue of $221.14 million for the quarter, compared to analysts’ expectations of $220.59 million. Endava had a net margin of 5.69% and a return on equity of 7.13%. Equities research analysts anticipate that Endava will post 0.51 earnings per share for the current year.

Hedge Funds Weigh In On Endava

Hedge funds have recently bought and sold shares of the company. Assetmark Inc. boosted its stake in Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares in the last quarter. Financial Management Professionals Inc. bought a new position in Endava in the 4th quarter worth about $81,000. Principal Securities Inc. bought a new position in Endava in the 4th quarter worth about $99,000. Headlands Technologies LLC bought a new position in Endava in the 1st quarter worth about $49,000. Finally, Quadrant Capital Group LLC lifted its stake in Endava by 34.8% during 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 period. Institutional investors own 62.23% of the company’s stock.

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.