Endava (NYSE:DAVA) Price Target Cut to $27.00

Endava (NYSE:DAVA) had its price objective lowered by equities research analysts at Citigroup from $30.00 to $27.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 9.76% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Needham & Company LLC reduced their price target on Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, September 20th. Guggenheim dropped their price objective on Endava from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Susquehanna reduced their target price on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Endava has an average rating of “Moderate Buy” and an average target price of $41.71.

Endava Stock Performance

Shares of Endava stock traded down $0.22 on Monday, hitting $24.60. The stock had a trading volume of 498,314 shares, compared to its average volume of 529,388. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 27.33 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.23. Endava has a twelve month low of $23.28 and a twelve month high of $81.06. The business’s 50 day moving average is $28.16 and its two-hundred day moving average is $28.94.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). Endava had a net margin of 2.30% and a return on equity of 2.76%. The firm had revenue of $245.30 million during the quarter, compared to analyst estimates of $248.65 million. Analysts forecast that Endava will post 0.77 EPS for the current year.

Hedge Funds Weigh In On Endava

A number of institutional investors have recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its stake in shares of Endava by 2.0% during the first quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock worth $48,025,000 after buying an additional 24,699 shares during the last quarter. Paradice Investment Management LLC acquired a new position in Endava in the 2nd quarter worth about $18,695,000. Millennium Management LLC raised its position in Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock valued at $16,697,000 after purchasing an additional 223,964 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of Endava by 9.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock valued at $11,868,000 after purchasing an additional 27,797 shares in the last quarter. Finally, Norden Group LLC grew its holdings in shares of Endava by 2,587.6% during the first quarter. Norden Group LLC now owns 219,254 shares of the company’s stock worth $8,340,000 after purchasing an additional 211,096 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.