Endava (NYSE:DAVA) Given New $33.00 Price Target at Needham & Company LLC

Endava (NYSE:DAVA) had its price objective decreased by Needham & Company LLC from $42.00 to $33.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective suggests a potential upside of 23.97% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Guggenheim reduced their price target on Endava from $55.00 to $45.00 and set a “buy” rating for the company in a report on Monday, September 16th. TD Cowen reduced their price target on Endava from $46.00 to $42.00 and set a “buy” rating for the company in a report on Friday, May 24th. Wedbush reduced their price target on Endava from $65.00 to $50.00 and set an “outperform” rating for the company in a report on Thursday, May 23rd. Redburn Atlantic started coverage on Endava in a report on Friday, May 24th. They issued a “neutral” rating and a $33.10 price target for the company. Finally, JPMorgan Chase & Co. increased their target price on 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 given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $42.31.

Endava Trading Down 3.8 %

NYSE DAVA opened at $26.62 on Friday. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 29.58 and a beta of 1.22. Endava has a twelve month low of $24.51 and a twelve month high of $81.06. The stock has a 50-day moving average of $30.58 and a 200 day moving average of $30.95.

Institutional Investors Weigh In On Endava

Several hedge funds and other institutional investors have recently made changes to their positions in DAVA. Fourth Sail Capital LP acquired a new stake in shares of Endava in the first quarter valued at approximately $27,622,000. Paradice Investment Management LLC acquired a new stake in shares of Endava in the second quarter valued at approximately $18,695,000. Capital World Investors increased its holdings in shares of Endava by 39.3% in the fourth quarter. Capital World Investors now owns 987,200 shares of the company’s stock valued at $76,854,000 after purchasing an additional 278,300 shares during the last quarter. Millennium Management LLC increased its holdings in shares of 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. Finally, Norden Group LLC increased its holdings in shares of Endava by 2,587.6% in the first quarter. Norden Group LLC now owns 219,254 shares of the company’s stock valued at $8,340,000 after purchasing an additional 211,096 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

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.