Needham & Company LLC Lowers Endava (NYSE:DAVA) Price Target to $38.00

Endava (NYSE:DAVA) had its price target reduced by investment analysts at Needham & Company LLC from $43.00 to $38.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target indicates a potential upside of 45.82% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Guggenheim lowered their target price on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Citigroup lowered their target price on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Morgan Stanley boosted their target price on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Bank of America began coverage on Endava in a research note on Friday, November 22nd. They issued a “neutral” rating and a $29.00 target price on the stock. Finally, TD Cowen boosted their target price on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Endava presently has a consensus rating of “Moderate Buy” and an average target price of $39.10.

Endava Stock Down 7.9 %

NYSE:DAVA opened at $26.06 on Friday. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 236.91, a PEG ratio of 2.26 and a beta of 1.22. Endava has a 1-year low of $23.28 and a 1-year high of $68.58. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The business’s fifty day moving average price is $31.65 and its 200 day moving average price is $29.27.

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

Institutional Trading of Endava

Several large investors have recently made changes to their positions in the stock. Prescott Group Capital Management L.L.C. boosted its stake in shares of Endava by 20.2% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 411,139 shares of the company’s stock worth $12,704,000 after acquiring an additional 69,135 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Endava by 22.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock valued at $140,073,000 after purchasing an additional 842,433 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Endava during the 4th quarter valued at approximately $1,147,000. Woodline Partners LP bought a new stake in Endava during the 4th quarter valued at approximately $10,106,000. Finally, Sovereign s Capital Management LLC bought a new stake in Endava during the 4th quarter valued at approximately $4,397,000. Institutional investors 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.