Citigroup Lowers Endava (NYSE:DAVA) Price Target to $27.00

Endava (NYSE:DAVA) had its target price trimmed by Citigroup from $30.00 to $27.00 in a research note issued to investors on Monday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

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

Endava Trading Down 4.5 %

DAVA opened at $23.63 on Monday. Endava has a 12 month low of $23.28 and a 12 month 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. The stock has a 50-day moving average of $27.86 and a 200 day moving average of $28.83. The firm has a market cap of $1.36 billion, a P/E ratio of 26.26 and a beta of 1.21.

Endava (NYSE:DAVA) last released its quarterly earnings results 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 return on equity of 2.76% and a net margin of 2.30%. The firm had revenue of $245.30 million for the quarter, compared to analysts’ expectations of $248.65 million. As a group, research analysts forecast that Endava will post 0.77 EPS for the current year.

Hedge Funds Weigh In On Endava

Several hedge funds have recently modified their holdings of the stock. Paradice Investment Management LLC acquired a new position in shares of Endava in the second quarter valued at about $18,695,000. Millennium Management LLC boosted 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 buying an additional 223,964 shares during the last quarter. Norden Group LLC increased its holdings in Endava by 2,587.6% in the 1st quarter. Norden Group LLC now owns 219,254 shares of the company’s stock worth $8,340,000 after buying an additional 211,096 shares during the period. Lazard Asset Management LLC increased its holdings in Endava by 15,560.6% in the 1st quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock worth $6,511,000 after buying an additional 170,077 shares during the period. Finally, Mawer Investment Management Ltd. purchased a new position in Endava during the 2nd quarter worth approximately $4,915,000. Institutional investors and hedge funds 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.