Needham & Company LLC Forecasts Strong Price Appreciation for Endava (NYSE:DAVA) Stock

Endava (NYSE:DAVA) had its price objective increased by stock analysts at Needham & Company LLC from $33.00 to $36.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 33.93% from the company’s current price.

A number of other equities research analysts have also weighed in on DAVA. Citigroup lowered their target price on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Susquehanna reduced their price target on Endava from $66.00 to $55.00 and set a “positive” 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 report on Friday, September 6th. Guggenheim reduced their price target on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Finally, TD Cowen boosted their price target on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Endava currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.91.

Endava Trading Down 4.9 %

Shares of DAVA stock opened at $26.88 on Thursday. 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 price of $26.64 and a two-hundred day moving average price of $28.52. Endava has a 12-month low of $23.28 and a 12-month high of $81.06. The firm has a market cap of $1.55 billion, a P/E ratio of 192.00 and a beta of 1.21.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in DAVA. BNP Paribas Financial Markets boosted its position in shares of Endava by 5.6% in the 1st quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock worth $353,000 after purchasing an additional 495 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Endava by 24.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 8,339 shares of the company’s stock worth $317,000 after purchasing an additional 1,622 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Endava in the 1st quarter worth approximately $832,000. Sei Investments Co. boosted its position in shares of Endava by 30.5% in the 1st quarter. Sei Investments Co. now owns 110,144 shares of the company’s stock worth $4,190,000 after purchasing an additional 25,716 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Endava in the 1st quarter worth approximately $49,000. Hedge funds and other institutional investors 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.