Needham & Company LLC Boosts Endava (NYSE:DAVA) Price Target to $36.00

Endava (NYSE:DAVA) had its target price lifted by Needham & Company LLC from $33.00 to $36.00 in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on DAVA. Citigroup lowered their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Guggenheim reduced their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. TD Cowen lifted their target price on shares of Endava from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Susquehanna reduced their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Endava presently has an average rating of “Moderate Buy” and a consensus target price of $40.91.

Endava Price Performance

DAVA stock opened at $26.88 on Thursday. The firm has a 50 day moving average of $26.64 and a 200-day moving average of $28.51. Endava has a 12-month low of $23.28 and a 12-month high of $81.06. The company has a current ratio of 1.90, a quick ratio of 1.74 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 192.00 and a beta of 1.21.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, September 19th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). The business 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%. As a group, equities analysts expect that Endava will post 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Endava

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. bought a new position in shares of Endava during the third quarter valued at $30,000. Headlands Technologies LLC acquired a new position in shares of Endava during the 1st quarter worth about $49,000. Signaturefd LLC grew its position in shares of Endava by 84.1% in the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after purchasing an additional 886 shares during the period. Seven Eight Capital LP acquired a new position in shares of Endava in the 2nd quarter valued at approximately $216,000. Finally, Precision Wealth Strategies LLC boosted 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 during the last quarter. 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.