Endava (NYSE:DAVA) PT Lowered to $50.00

Endava (NYSE:DAVA) had its price target cut by Wedbush from $65.00 to $50.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 66.44% from the company’s current price.

Several other research firms have also recently issued reports on DAVA. Needham & Company LLC cut their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Guggenheim began coverage on shares of Endava in a report on Tuesday, March 19th. They set a “buy” rating and a $60.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and set a $40.00 target price on shares of Endava in a report on Monday, April 22nd. TD Cowen dropped their target price on shares of Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Finally, HSBC raised shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Endava has an average rating of “Moderate Buy” and a consensus target price of $46.41.

Endava Stock Down 3.0 %

DAVA opened at $30.04 on Thursday. Endava has a 52-week low of $28.13 and a 52-week high of $81.06. The company has a 50 day moving average of $32.75 and a two-hundred day moving average of $54.28. The company has a market cap of $1.73 billion, a P/E ratio of 20.63 and a beta of 1.14.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, May 23rd. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). The firm had revenue of $221.14 million during the quarter, compared to analysts’ expectations of $220.59 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. Research analysts anticipate that Endava will post 0.62 earnings per share for the current year.

Hedge Funds Weigh In On Endava

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