Endava (NYSE:DAVA) Upgraded to “Buy” by HSBC

HSBC upgraded shares of Endava (NYSE:DAVA) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning, Marketbeat reports. They currently have $45.00 price target on the stock.

DAVA has been the topic of several other reports. Morgan Stanley reiterated an equal weight rating and issued a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd. Citigroup decreased their price objective on shares of Endava from $40.00 to $33.00 and set a neutral rating on the stock in a research report on Monday, April 22nd. 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. Needham & Company LLC cut their target price on shares of Endava from $70.00 to $50.00 and set a buy rating for the company in a research note on Friday, March 1st. Finally, TD Cowen cut their target price on shares of Endava from $85.00 to $52.00 and set an outperform rating for the company in a research note on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Endava currently has a consensus rating of Moderate Buy and an average price target of $51.67.

Endava Stock Performance

Shares of NYSE DAVA opened at $31.22 on Wednesday. Endava has a one year low of $28.99 and a one year high of $81.06. The company’s fifty day moving average is $37.67 and its two-hundred day moving average is $56.81. The firm has a market capitalization of $1.80 billion, a P/E ratio of 21.53 and a beta of 1.10.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DAVA. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Endava during the 3rd quarter valued at about $58,433,000. Fourth Sail Capital LP acquired a new position in shares of Endava during the 1st quarter valued at about $27,622,000. Invesco Ltd. increased its stake in shares of Endava by 156.5% during the 3rd quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock valued at $49,669,000 after acquiring an additional 528,384 shares during the last quarter. Capital World Investors increased its stake in shares of Endava by 39.3% during the 4th quarter. Capital World Investors now owns 987,200 shares of the company’s stock valued at $76,854,000 after acquiring an additional 278,300 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Endava by 16.5% during the 3rd quarter. FMR LLC now owns 1,807,318 shares of the company’s stock valued at $103,650,000 after acquiring an additional 256,250 shares during the last quarter. 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.