Endava (NYSE:DAVA) Price Target Cut to $40.00 by Analysts at Guggenheim

Endava (NYSE:DAVA) had its target price decreased by Guggenheim from $45.00 to $40.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective would indicate a potential upside of 61.94% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Susquehanna decreased their price target on Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Needham & Company LLC dropped their price target on shares of Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Citigroup dropped their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. increased their target price on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.21.

Endava Price Performance

DAVA stock traded up $1.09 during trading hours on Wednesday, hitting $24.70. 240,897 shares of the stock traded hands, compared to its average volume of 527,489. The stock has a 50-day simple moving average of $27.25 and a 200 day simple moving average of $28.63. The company has a market cap of $1.43 billion, a P/E ratio of 68.72 and a beta of 1.21. Endava has a one year low of $23.28 and a one year high of $81.06. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.23.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a net margin of 2.30% and a return on equity of 2.75%. The business had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. Equities analysts forecast that Endava will post 0.77 earnings per share for the current year.

Institutional Trading of Endava

Institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. boosted its stake in Endava by 44.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 37,423 shares of the company’s stock valued at $956,000 after buying an additional 11,482 shares in the last quarter. GSA Capital Partners LLP increased its position in shares of Endava by 53.2% during the 3rd quarter. GSA Capital Partners LLP now owns 37,873 shares of the company’s stock worth $967,000 after purchasing an additional 13,158 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc lifted its holdings in Endava by 8.7% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company’s stock valued at $6,279,000 after purchasing an additional 19,669 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its position in Endava by 27.9% in the third quarter. Kornitzer Capital Management Inc. KS now owns 279,565 shares of the company’s stock valued at $7,140,000 after buying an additional 60,941 shares in the last quarter. Finally, Malaga Cove Capital LLC grew its stake in Endava by 5.3% during the third quarter. Malaga Cove Capital LLC now owns 36,617 shares of the company’s stock worth $935,000 after buying an additional 1,858 shares during the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.