Endava (NYSE:DAVA) Receives New Coverage from Analysts at Redburn Atlantic

Equities researchers at Redburn Atlantic began coverage on shares of Endava (NYSE:DAVA) in a note issued to investors on Friday, Briefing.com reports. The brokerage set a “neutral” rating and a $33.10 price target on the stock. Redburn Atlantic’s target price indicates a potential upside of 6.91% from the company’s previous close.

Several other equities analysts have also recently issued reports on DAVA. HSBC upgraded 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, May 1st. Morgan Stanley reiterated an “equal weight” rating and set a $40.00 target price on shares of Endava in a research report on Monday, April 22nd. Citigroup dropped their target price on 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 Endava in a research report on Tuesday, March 19th. They set a “buy” rating and a $60.00 target price on the stock. Finally, Wedbush dropped their target price on Endava from $65.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.28.

Endava Stock Up 6.0 %

DAVA opened at $30.96 on Friday. The business has a 50 day moving average price of $32.86 and a two-hundred day moving average price of $54.45. The company has a market cap of $1.79 billion, a PE ratio of 21.35 and a beta of 1.14. Endava has a 52 week low of $28.13 and a 52 week high of $81.06.

Endava (NYSE:DAVA) last posted 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). The company had revenue of $227.96 million for 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, sell-side analysts expect that Endava will post 0.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Endava

A number of large investors have recently bought and sold shares of DAVA. Assetmark Inc. grew its holdings in Endava by 47.8% during the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after buying an additional 165 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Endava during the 1st quarter worth $49,000. Signaturefd LLC lifted its stake in shares of Endava by 194.9% during the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after purchasing an additional 762 shares during the period. Financial Management Professionals Inc. purchased a new position in shares of Endava during the 4th quarter worth $81,000. Finally, Principal Securities Inc. purchased a new position in shares of Endava during the 4th quarter worth $99,000. Institutional investors and hedge funds 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.