Citigroup Lowers Endava (NYSE:DAVA) Price Target to $33.00

Endava (NYSE:DAVA) had its price objective cut by equities researchers at Citigroup from $40.00 to $33.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 8.91% from the company’s current price.

Several other research analysts have also commented on DAVA. HSBC lowered Endava from a “buy” rating to a “hold” rating and boosted their price target for the stock from $68.00 to $80.00 in a research report on Monday, January 8th. Needham & Company LLC decreased their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Morgan Stanley downgraded shares of Endava from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $68.00 to $80.00 in a research report on Wednesday, January 24th. Guggenheim started coverage on shares of Endava in a research note on Tuesday, March 19th. They issued a “buy” rating and a $60.00 target price for the company. Finally, TD Cowen lowered their price objective on Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Endava currently has a consensus rating of “Moderate Buy” and an average target price of $55.56.

Endava Trading Up 2.2 %

Shares of Endava stock opened at $30.30 on Monday. The stock’s fifty day moving average price is $42.12 and its 200-day moving average price is $58.01. The firm has a market cap of $1.75 billion, a P/E ratio of 20.90 and a beta of 1.10. Endava has a 12 month low of $29.54 and a 12 month high of $81.06.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Endava had a net margin of 8.88% and a return on equity of 11.77%. The business had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. Analysts forecast that Endava will post 0.62 earnings per share for the current year.

Institutional Trading of Endava

A number of hedge funds and other institutional investors have recently made changes to their positions in DAVA. Capital International Investors lifted its position in Endava by 3.2% during the fourth quarter. Capital International Investors now owns 2,115,202 shares of the company’s stock valued at $164,668,000 after purchasing an additional 65,794 shares during the period. FMR LLC grew its holdings in Endava by 16.5% during the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after acquiring an additional 256,250 shares during the period. CDAM UK Ltd raised its position in Endava by 1.8% during the fourth quarter. CDAM UK Ltd now owns 1,451,449 shares of the company’s stock valued at $112,995,000 after acquiring an additional 25,570 shares in the last quarter. Wasatch Advisors LP lifted its holdings in Endava by 2.0% in the first quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock valued at $48,025,000 after acquiring an additional 24,699 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Endava in the 3rd quarter worth approximately $58,433,000. Institutional investors and hedge funds own 62.23% of the company’s stock.

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.