Needham & Company LLC Issues Positive Forecast for Endava (NYSE:DAVA) Stock Price

Endava (NYSE:DAVA) had its target price hoisted by analysts at Needham & Company LLC from $36.00 to $43.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 37.60% from the company’s current price.

Several other equities analysts have also recently commented on DAVA. Guggenheim reduced their price objective on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Bank of America assumed coverage on shares of Endava in a research note on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price target for the company. Citigroup cut 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. Susquehanna cut their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research note on Friday, September 20th. Finally, TD Cowen boosted their price target on shares of Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.46.

Endava Price Performance

Shares of NYSE:DAVA opened at $31.25 on Friday. The company has a 50 day moving average of $29.18 and a 200 day moving average of $28.88. The stock has a market cap of $1.84 billion, a P/E ratio of 223.21, a P/E/G ratio of 2.16 and a beta of 1.22. 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 1.90 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Endava

A number of hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in Endava by 86.4% during the 4th quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $50,000 after buying an additional 745 shares during the last quarter. 272 Capital LP raised its holdings in Endava by 156.3% during the 3rd quarter. 272 Capital LP now owns 145,146 shares of the company’s stock valued at $3,707,000 after buying an additional 88,518 shares during the last quarter. DF Dent & Co. Inc. raised its holdings in Endava by 2.5% during the 3rd quarter. DF Dent & Co. Inc. now owns 777,108 shares of the company’s stock valued at $19,847,000 after buying an additional 18,882 shares during the last quarter. State Street Corp raised its holdings in Endava by 33.0% during the 3rd quarter. State Street Corp now owns 80,148 shares of the company’s stock valued at $2,047,000 after buying an additional 19,884 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in Endava by 11.7% during the 3rd quarter. HighTower Advisors LLC now owns 15,143 shares of the company’s stock valued at $390,000 after buying an additional 1,592 shares during the last quarter. 62.23% of the stock is currently owned by institutional investors.

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.