TD Cowen Issues Positive Forecast for Endava (NYSE:DAVA) Stock Price

Endava (NYSE:DAVA) had its price objective upped by TD Cowen from $35.00 to $36.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on DAVA. Susquehanna cut their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Needham & Company LLC cut their target price on shares of Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. increased their target price on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Citigroup dropped their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Finally, Guggenheim reduced their price objective on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.91.

Endava Stock Down 4.9 %

Endava stock opened at $26.88 on Wednesday. The company has a market capitalization of $1.55 billion, a PE ratio of 192.00 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.74 and a current ratio of 1.90. Endava has a fifty-two week low of $23.28 and a fifty-two week high of $81.06. The firm has a 50 day moving average price of $26.64 and a 200 day moving average price of $28.51.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.13). The firm had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $248.65 million. Endava had a return on equity of 1.10% and a net margin of 0.92%. Research analysts expect that Endava will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Endava

Several large investors have recently bought and sold shares of DAVA. Blue Trust Inc. acquired a new position in shares of Endava during the 3rd quarter worth about $30,000. Headlands Technologies LLC acquired a new position in Endava in the first quarter valued at approximately $49,000. Signaturefd LLC boosted its holdings in Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after purchasing an additional 886 shares in the last quarter. Seven Eight Capital LP purchased a new position in Endava in the second quarter valued at approximately $216,000. Finally, Precision Wealth Strategies LLC raised its holdings in Endava by 6.7% during the third quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after purchasing an additional 540 shares in the last quarter. 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.