Endava (NYSE:DAVA) Rating Increased to Overweight at JPMorgan Chase & Co.

Endava (NYSE:DAVAGet Free Report) was upgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, Marketbeat.com reports. The firm currently has a $49.00 price target on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 26.48% from the company’s current price.

A number of other research firms also recently issued reports on DAVA. Citigroup restated a “neutral” rating and set a $40.00 target price (down from $90.00) on shares of Endava in a research report on Friday, March 1st. HSBC downgraded Endava from a “buy” rating to a “hold” rating and raised their price target for the company from $68.00 to $80.00 in a report on Monday, January 8th. Morgan Stanley downgraded Endava from an “overweight” rating to an “equal weight” rating and lifted their target price for the stock from $68.00 to $80.00 in a report on Wednesday, January 24th. TD Cowen dropped their price target on Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Finally, Needham & Company LLC decreased their target price on Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.78.

Check Out Our Latest Stock Report on Endava

Endava Stock Performance

DAVA opened at $38.74 on Tuesday. The firm’s 50-day simple moving average is $61.23 and its 200-day simple moving average is $61.42. Endava has a twelve month low of $35.25 and a twelve month high of $81.06. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 26.72 and a beta of 1.10.

Hedge Funds Weigh In On Endava

Several institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC raised its position in shares of Endava by 433.3% during the third quarter. Tower Research Capital LLC TRC now owns 480 shares of the company’s stock worth $39,000 after purchasing an additional 390 shares during the period. Assetmark Inc. raised its holdings in shares of Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Endava in the 1st quarter valued at about $88,000. Pinebridge Investments L.P. bought a new position in shares of Endava during the 2nd quarter valued at about $36,000. Finally, Huntington National Bank increased its position in shares of Endava by 369.3% during the 2nd 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 last quarter. 56.10% of the stock is owned by institutional investors and hedge funds.

Endava Company Profile

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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.

Further Reading

Analyst Recommendations for Endava (NYSE:DAVA)

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