Guggenheim Cuts Endava (NYSE:DAVA) Price Target to $40.00

Endava (NYSE:DAVA) had its target price cut by Guggenheim from $45.00 to $40.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Needham & Company LLC reduced their price objective on Endava from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Susquehanna reduced their price target on Endava from $66.00 to $55.00 and set a “positive” rating for the company in a research report on Friday, September 20th. Finally, Citigroup cut their price target on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.21.

Endava Stock Performance

Shares of NYSE DAVA opened at $26.37 on Wednesday. The firm’s 50-day moving average price is $26.87 and its 200-day moving average price is $28.56. Endava has a 52-week low of $23.28 and a 52-week high of $81.06. The company has a market cap of $1.52 billion, a PE ratio of 73.28 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.23.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, September 19th. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). The company had revenue of $245.30 million during the quarter, compared to the consensus estimate of $248.65 million. Endava had a return on equity of 2.75% and a net margin of 2.30%. As a group, analysts anticipate that Endava will post 0.77 EPS for the current year.

Hedge Funds Weigh In On Endava

Several institutional investors have recently bought and sold shares of DAVA. Mawer Investment Management Ltd. raised its position in shares of Endava by 613.0% during the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock valued at $30,610,000 after buying an additional 1,030,403 shares in the last quarter. Fourth Sail Capital LP lifted its stake in shares of Endava by 36.2% in the 3rd quarter. Fourth Sail Capital LP now owns 931,151 shares of the company’s stock valued at $23,782,000 after purchasing an additional 247,418 shares during the last quarter. Paradice Investment Management LLC purchased a new position in shares of Endava in the 2nd quarter worth approximately $18,695,000. Millennium Management LLC increased its position in shares of Endava by 64.5% during the 2nd quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock valued at $16,697,000 after purchasing an additional 223,964 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its holdings in Endava by 9.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock valued at $11,868,000 after buying an additional 27,797 shares during the period. Institutional investors 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.