Endava plc (NYSE:DAVA) Given Average Recommendation of “Moderate Buy” by Analysts

Endava plc (NYSE:DAVA) has earned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $60.78.

Several brokerages have weighed in on DAVA. TD Cowen cut their price target on Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Morgan Stanley downgraded Endava from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $68.00 to $80.00 in a report on Wednesday, January 24th. JPMorgan Chase & Co. upgraded Endava from a “neutral” rating to an “overweight” rating and set a $49.00 price target for the company in a report on Tuesday, March 19th. Citigroup restated a “neutral” rating and set a $40.00 price objective (down from $90.00) on shares of Endava in a report on Friday, March 1st. Finally, HSBC downgraded Endava from a “buy” rating to a “hold” rating and upped their price objective for the stock from $68.00 to $80.00 in a report on Monday, January 8th.

Endava Stock Performance

Shares of Endava stock opened at $30.60 on Tuesday. Endava has a 1 year low of $30.55 and a 1 year high of $81.06. The company has a market capitalization of $1.77 billion, a P/E ratio of 21.10 and a beta of 1.10. The company’s fifty day moving average is $47.58 and its two-hundred day moving average is $59.32.

Endava (NYSE:DAVA) last issued its earnings results on Thursday, February 29th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). The firm had revenue of $227.96 million during the quarter, compared to analysts’ expectations of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. As a group, equities analysts expect that Endava will post 0.66 earnings per share for the current year.

Institutional Investors Weigh In On Endava

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC raised its holdings in shares of Endava by 433.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 480 shares of the company’s stock valued at $39,000 after purchasing an additional 390 shares in the last quarter. Assetmark Inc. raised its holdings in Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares during the period. Signaturefd LLC raised its holdings in Endava by 194.9% in the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after acquiring an additional 762 shares during the period. Global Retirement Partners LLC raised its holdings in Endava by 41.8% in the 3rd quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock worth $69,000 after acquiring an additional 364 shares during the period. Finally, Financial Management Professionals Inc. bought a new position in Endava in the 4th quarter worth $81,000. Hedge funds and other 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.