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

Endava (NYSE:DAVA) had its price objective reduced by Guggenheim from $45.00 to $40.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. 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. Needham & Company LLC reduced their target price on Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. boosted their price target on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Finally, Susquehanna decreased their target price on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Endava has a consensus rating of “Moderate Buy” and an average price target of $41.21.

Endava Stock Performance

DAVA stock traded up $0.83 during mid-day trading on Wednesday, hitting $25.32. 378,361 shares of the company were exchanged, compared to its average volume of 528,013. Endava has a 1-year low of $23.28 and a 1-year high of $81.06. The stock has a market capitalization of $1.46 billion, a PE ratio of 70.69 and a beta of 1.21. The business has a 50 day simple moving average of $27.11 and a 200-day simple moving average of $28.60. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.23.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a return on equity of 2.75% and a net margin of 2.30%. The firm had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. On average, equities analysts forecast that Endava will post 0.77 earnings per share for the current year.

Institutional Investors Weigh In On Endava

Several hedge funds have recently modified their holdings of the company. Blue Trust Inc. bought a new position in Endava in the third quarter valued at about $30,000. Headlands Technologies LLC bought a new position in Endava in the 1st quarter valued at approximately $49,000. Signaturefd LLC boosted its position in Endava by 84.1% during the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock worth $50,000 after buying an additional 886 shares during the period. Seven Eight Capital LP bought a new stake in Endava during the 2nd quarter worth approximately $216,000. Finally, Precision Wealth Strategies LLC increased its position in Endava by 6.7% in the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock valued at $219,000 after acquiring an additional 540 shares during the period. Institutional investors and hedge funds 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.