Endava (NYSE:DAVA) Stock Price Expected to Rise, TD Cowen Analyst Says

Endava (NYSE:DAVA) had its price target raised by equities researchers at TD Cowen from $35.00 to $36.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. TD Cowen’s price target would indicate a potential upside of 27.43% from the stock’s previous close.

A number of other brokerages have also issued reports on DAVA. Susquehanna cut their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Guggenheim reduced their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Needham & Company LLC dropped their price target on shares of Endava from $42.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, September 20th. Citigroup reduced their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lifted their target price on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.91.

Endava Price Performance

NYSE:DAVA opened at $28.25 on Wednesday. Endava has a one year low of $23.28 and a one year high of $81.06. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 201.79 and a beta of 1.21. The firm’s fifty day moving average is $26.76 and its two-hundred day moving average is $28.54. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.74 and a current ratio of 1.90.

Endava (NYSE:DAVA) last announced 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 firm had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. Endava had a net margin of 0.92% and a return on equity of 1.10%. Research analysts expect that Endava will post 0.77 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAVA. Blue Trust Inc. acquired a new position in Endava during the third quarter worth about $30,000. Headlands Technologies LLC purchased a new stake in Endava in the 1st quarter valued at approximately $49,000. Signaturefd LLC grew its holdings in Endava by 84.1% during the 3rd 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 last quarter. Seven Eight Capital LP acquired a new position in shares of Endava in the second quarter worth $216,000. Finally, Cetera Advisors LLC raised its holdings in shares of Endava by 35.4% in the first quarter. Cetera Advisors LLC now owns 8,065 shares of the company’s stock worth $307,000 after acquiring an additional 2,110 shares during the last quarter. 62.23% of the stock is currently 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.