Endava (NYSE:DAVA) Price Target Cut to $43.00 by Analysts at JPMorgan Chase & Co.

Endava (NYSE:DAVA) had its price target decreased by JPMorgan Chase & Co. from $49.00 to $43.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 39.47% from the company’s previous close.

DAVA has been the topic of a number of other research reports. Needham & Company LLC decreased their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Guggenheim initiated coverage on shares of Endava in a research note on Tuesday, March 19th. They issued a “buy” rating and a $60.00 price target on the stock. HSBC upgraded shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a research report on Wednesday. TD Cowen decreased their target price on shares of Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Finally, Citigroup decreased their target price 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. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.00.

Endava Price Performance

Endava stock opened at $30.83 on Thursday. Endava has a fifty-two week low of $28.99 and a fifty-two week high of $81.06. The firm has a market capitalization of $1.78 billion, a PE ratio of 21.26 and a beta of 1.14. The company’s 50-day moving average is $36.25 and its 200-day moving average is $56.44.

Endava (NYSE:DAVA) last announced its quarterly 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 company had revenue of $227.96 million during the quarter, compared to analyst estimates of $231.07 million. As a group, analysts expect that Endava will post 0.62 EPS for the current year.

Institutional Investors Weigh In On Endava

Several large investors have recently modified their holdings of the company. Capital International Investors increased its position in shares of Endava by 3.2% during the fourth quarter. Capital International Investors now owns 2,115,202 shares of the company’s stock worth $164,668,000 after buying an additional 65,794 shares during the period. FMR LLC increased its position in shares of 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 buying an additional 256,250 shares during the period. CDAM UK Ltd increased its position in shares of Endava by 1.8% during the fourth quarter. CDAM UK Ltd now owns 1,451,449 shares of the company’s stock worth $112,995,000 after buying an additional 25,570 shares during the period. Wasatch Advisors LP increased its position in shares of Endava by 2.0% during the first quarter. Wasatch Advisors LP now owns 1,262,478 shares of the company’s stock worth $48,025,000 after buying an additional 24,699 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Endava in the third quarter worth $58,433,000. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.