Endava plc (NYSE:DAVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Endava plc (NYSE:DAVA) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $39.10.

Several equities analysts recently issued reports on the company. Needham & Company LLC decreased their price objective on Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 21st. TD Cowen boosted their price objective on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Morgan Stanley upped their price target on Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Bank of America initiated coverage on Endava in a research report on Friday, November 22nd. They set a “neutral” rating and a $29.00 price target for the company. Finally, Guggenheim reduced their price target on Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Endava

A number of institutional investors and hedge funds have recently made changes to their positions in DAVA. Blue Trust Inc. bought a new stake in shares of Endava during the 3rd quarter worth approximately $30,000. Raymond James & Associates raised its stake in shares of Endava by 3.4% during the 3rd quarter. Raymond James & Associates now owns 107,042 shares of the company’s stock worth $2,734,000 after purchasing an additional 3,513 shares in the last quarter. US Bancorp DE raised its stake in shares of Endava by 15.3% during the 3rd quarter. US Bancorp DE now owns 18,058 shares of the company’s stock worth $461,000 after purchasing an additional 2,398 shares in the last quarter. Malaga Cove Capital LLC raised its stake in shares of Endava by 5.3% during the 3rd quarter. Malaga Cove Capital LLC now owns 36,617 shares of the company’s stock worth $935,000 after purchasing an additional 1,858 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its stake in shares of Endava by 27.9% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 279,565 shares of the company’s stock worth $7,140,000 after purchasing an additional 60,941 shares in the last quarter. Institutional investors own 62.23% of the company’s stock.

Endava Price Performance

Shares of DAVA opened at $23.99 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a 50 day simple moving average of $31.34 and a 200 day simple moving average of $29.19. Endava has a 52-week low of $23.28 and a 52-week high of $64.54. The firm has a market capitalization of $1.42 billion, a PE ratio of 218.05, a P/E/G ratio of 2.26 and a beta of 1.22.

Endava (NYSE:DAVA) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.18). Endava had a net margin of 0.74% and a return on equity of 0.89%. The business had revenue of $250.63 million during the quarter, compared to analyst estimates of $197.33 million. Sell-side analysts predict that Endava will post 0.57 EPS for the current fiscal year.

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.