Endava plc (NYSE:DAVA) Receives Average Rating of “Moderate Buy” from Analysts

Endava plc (NYSE:DAVA) has earned a consensus rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $46.41.

A number of research analysts have weighed in on DAVA shares. Needham & Company LLC reduced their price target on shares of Endava from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. HSBC raised shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Endava from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Friday, May 24th. Citigroup reduced their price target 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. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $40.00 price target on shares of Endava in a research report on Monday, April 22nd.

Endava Stock Performance

DAVA opened at $29.24 on Friday. The company’s 50 day simple moving average is $28.66 and its 200 day simple moving average is $47.73. Endava has a 1 year low of $24.51 and a 1 year high of $81.06. The stock has a market capitalization of $1.69 billion, a PE ratio of 32.49 and a beta of 1.21.

Endava (NYSE:DAVA) last released its earnings results on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.10). Endava had a return on equity of 7.13% and a net margin of 5.69%. The company had revenue of $221.14 million during the quarter, compared to analyst estimates of $220.59 million. As a group, sell-side analysts expect that Endava will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of Endava

Several institutional investors have recently added to or reduced their stakes in DAVA. Assetmark Inc. raised its holdings in Endava by 47.8% in the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock valued at $40,000 after acquiring an additional 165 shares in the last quarter. Headlands Technologies LLC acquired a new stake in Endava in the first quarter valued at $49,000. Financial Management Professionals Inc. acquired a new stake in Endava in the fourth quarter valued at $81,000. Principal Securities Inc. acquired a new stake in Endava in the fourth quarter valued at $99,000. Finally, Quadrant Capital Group LLC raised its holdings in Endava by 34.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after acquiring an additional 368 shares in the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.

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.