Needham & Company LLC Cuts Endava (NYSE:DAVA) Price Target to $7.00

Endava (NYSE:DAVA) had its price objective reduced by research analysts at Needham & Company LLC from $9.00 to $7.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would indicate a potential upside of 38.61% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Morgan Stanley cut their price objective on shares of Endava from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 13th. William Blair lowered shares of Endava from an “outperform” rating to a “market perform” rating in a research note on Tuesday, November 11th. Guggenheim lowered their target price on Endava from $15.00 to $13.00 and set a “buy” rating for the company in a report on Friday, February 13th. Finally, Wall Street Zen upgraded Endava from a “sell” rating to a “hold” rating in a report on Sunday, February 8th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.86.

Endava Stock Down 3.4%

Shares of NYSE DAVA traded down $0.18 during mid-day trading on Thursday, reaching $5.05. 829,100 shares of the company’s stock were exchanged, compared to its average volume of 492,373. Endava has a twelve month low of $4.84 and a twelve month high of $33.29. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $283.86 million, a price-to-earnings ratio of 25.30 and a beta of 1.26. The business has a fifty day simple moving average of $6.33 and a 200 day simple moving average of $8.42.

Hedge Funds Weigh In On Endava

Several hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC bought a new stake in Endava during the third quarter worth about $28,000. EverSource Wealth Advisors LLC increased its position in shares of Endava by 733.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock worth $29,000 after purchasing an additional 1,680 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Endava by 901.8% during the 4th quarter. Quadrant Capital Group LLC now owns 6,101 shares of the company’s stock worth $39,000 after purchasing an additional 5,492 shares in the last quarter. Perennial Advisors LLC acquired a new stake in shares of Endava in the 4th quarter valued at approximately $63,000. Finally, Vident Advisory LLC acquired a new stake in shares of Endava in the 4th quarter valued at approximately $68,000. Institutional investors own 62.23% of the company’s stock.

More Endava News

Here are the key news stories impacting Endava this week:

• Positive Sentiment: Management issued materially stronger guidance: Q3 EPS guide of $0.250–$0.290 (vs. Street ~$0.12) and FY2026 EPS guide of $1.100–$1.180 (vs. Street ~$0.40); revenue FY guide ~ $1.0B above consensus. That upgrade is a clear bullish signal on underlying demand and the company’s AI pivot. Read More.
• Positive Sentiment: Revenue materially exceeded the consensus: Q2 revenue ~ $248.0M versus a lower Street estimate (~$179.9M), indicating stronger-than-expected client engagement and bookings even as profitability lags. Read More.
• Positive Sentiment: Strategic progress on AI: Endava highlighted its AI-native pivot and expanded a partnership with Cognition to scale “governed agentic coding,” reinforcing the company’s positioning in higher‑value AI services that could lift future margins and bookings. Read More.
• Neutral Sentiment: Management commentary and the full earnings call/slides are available for deeper read; investors should review the transcript and slides for details on margin drivers, capital allocation, and cadence of AI revenue. Read More.
• Negative Sentiment: Conflicting EPS reports created confusion: some outlets and summaries show EPS substantially below consensus (reporting $0.07 vs $0.21 consensus), while others report EPS in line with estimates. That discrepancy and the company’s thin net margin (~1.34%) likely contributed to intraday selling and volatility despite the upbeat guidance. Read More.

About Endava

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.