Endava (NYSE:DAVA) Price Target Lowered to $33.00 at Needham & Company LLC

Endava (NYSE:DAVA) had its price target dropped by Needham & Company LLC from $42.00 to $33.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 19.44% from the company’s previous close.

Several other analysts also recently commented on the stock. Wedbush dropped their price objective on shares of Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 23rd. Redburn Atlantic began coverage on shares of Endava in a research note on Friday, May 24th. They issued a “neutral” rating and a $33.10 target price for the company. TD Cowen decreased their target price on shares of Endava from $46.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Guggenheim decreased 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. Finally, JPMorgan Chase & Co. boosted their target price on shares of 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 issued a buy rating to the stock. Based on data from MarketBeat, Endava currently has an average rating of “Moderate Buy” and an average price target of $45.11.

Endava Price Performance

DAVA stock opened at $27.63 on Friday. The firm’s fifty day simple moving average is $30.67 and its 200-day simple moving average is $31.07. The company has a market capitalization of $1.60 billion, a P/E ratio of 30.70 and a beta of 1.22. Endava has a 12 month low of $24.51 and a 12 month high of $81.06.

Hedge Funds Weigh In On Endava

A number of large investors have recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Endava by 34.8% during the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock worth $111,000 after buying an additional 368 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Endava by 5.6% during the first quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock worth $353,000 after buying an additional 495 shares in the last quarter. Capital International Sarl grew its holdings in shares of Endava by 4.3% during the fourth quarter. Capital International Sarl now owns 16,996 shares of the company’s stock worth $1,323,000 after buying an additional 708 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Endava by 18.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,316 shares of the company’s stock worth $414,000 after buying an additional 833 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.