Needham & Company LLC Boosts Endava (NYSE:DAVA) Price Target to $36.00

Endava (NYSE:DAVA) had its price target boosted by equities research analysts at Needham & Company LLC from $33.00 to $36.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 33.93% from the stock’s current price.

Several other research firms have also issued reports on DAVA. Susquehanna reduced their target price on Endava from $66.00 to $55.00 and set a “positive” rating for the company in a report on Friday, September 20th. Citigroup decreased their target price on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. TD Cowen raised their target price on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday. Guggenheim decreased their target price on Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $40.91.

Endava Stock Performance

DAVA stock opened at $26.88 on Thursday. The firm has a market cap of $1.55 billion, a PE ratio of 192.00 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average of $26.64 and a 200-day moving average of $28.52. Endava has a 12-month low of $23.28 and a 12-month high of $81.06.

Endava (NYSE:DAVA) last released its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.13). The business had revenue of $245.30 million during the quarter, compared to the consensus estimate of $248.65 million. Endava had a net margin of 0.92% and a return on equity of 1.10%. As a group, sell-side analysts expect that Endava will post 0.77 earnings per share for the current year.

Hedge Funds Weigh In On Endava

Several hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. bought a new stake in Endava during the third quarter valued at $30,000. Headlands Technologies LLC bought a new stake in Endava during the first quarter valued at $49,000. Signaturefd LLC boosted its stake in Endava by 84.1% during the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after buying an additional 886 shares during the period. Seven Eight Capital LP bought a new stake in Endava during the second quarter worth about $216,000. Finally, Cetera Advisors LLC lifted its stake in Endava by 35.4% during the first quarter. Cetera Advisors LLC now owns 8,065 shares of the company’s stock worth $307,000 after purchasing an additional 2,110 shares during the last quarter. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

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.