Endava (NYSE:DAVA) Price Target Increased to $70.00 by Analysts at Needham & Company LLC

Endava (NYSE:DAVA) had its price target upped by Needham & Company LLC from $65.00 to $70.00 in a research note released on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other brokerages have also weighed in on DAVA. TD Cowen cut their price objective on Endava from $78.00 to $70.00 and set an outperform rating on the stock in a report on Wednesday, September 20th. Susquehanna reduced their price target on shares of Endava from $100.00 to $83.00 and set a positive rating for the company in a research report on Monday, October 2nd. Finally, Morgan Stanley decreased their price objective on shares of Endava from $72.00 to $68.00 and set an overweight rating for the company in a research note on Wednesday, September 20th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of Buy and an average price target of $74.13.

Endava Stock Up 1.0 %

DAVA opened at $60.44 on Thursday. The firm’s 50-day moving average price is $55.04 and its 200-day moving average price is $52.48. The company has a market cap of $3.49 billion, a P/E ratio of 38.99 and a beta of 1.06. Endava has a 52-week low of $44.62 and a 52-week high of $95.00.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Wednesday, November 15th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.04. The business had revenue of $188.40 million for the quarter, compared to analyst estimates of $186.47 million. Endava had a net margin of 9.62% and a return on equity of 13.84%. Endava’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.65 EPS. On average, research analysts anticipate that Endava will post 1.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Endava

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of Endava by 433.3% in the third quarter. Tower Research Capital LLC TRC now owns 480 shares of the company’s stock worth $39,000 after acquiring an additional 390 shares during the period. Arcadia Investment Management Corp MI raised its holdings in Endava by 130.0% in the 1st quarter. Arcadia Investment Management Corp MI now owns 490 shares of the company’s stock worth $33,000 after purchasing an additional 277 shares during the period. Quantbot Technologies LP purchased a new position in Endava during the first quarter worth approximately $88,000. Pinebridge Investments L.P. purchased a new position in Endava during the second quarter worth approximately $36,000. Finally, Huntington National Bank grew its holdings in Endava by 369.3% in the second quarter. Huntington National Bank now owns 826 shares of the company’s stock valued at $43,000 after purchasing an additional 650 shares during the period. 56.10% of the stock is currently owned by institutional investors and hedge funds.

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.