Endava (NYSE:DAVA) Given New $18.00 Price Target at Needham & Company LLC

Endava (NYSE:DAVA) had its price target decreased by research analysts at Needham & Company LLC from $22.00 to $18.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 15.38% from the company’s previous close.

Several other research analysts have also weighed in on the stock. Susquehanna cut their price objective on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a report on Friday, February 21st. Morgan Stanley increased their price target on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Friday, January 31st. Finally, Guggenheim lowered their price objective on shares of Endava from $40.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Endava has an average rating of “Moderate Buy” and a consensus price target of $35.31.

Endava Trading Down 27.1%

Shares of DAVA opened at $15.60 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. Endava has a 1-year low of $14.50 and a 1-year high of $34.94. The stock has a market cap of $920.88 million, a price-to-earnings ratio of 141.82, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. The firm has a 50 day simple moving average of $19.26 and a 200-day simple moving average of $25.85.

Endava (NYSE:DAVA) last announced its earnings results on Wednesday, May 14th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.06). Endava had a net margin of 0.74% and a return on equity of 0.89%. Equities analysts forecast that Endava will post 0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Endava

A number of hedge funds have recently made changes to their positions in DAVA. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Endava by 36.7% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,198,846 shares of the company’s stock valued at $120,939,000 after purchasing an additional 1,665,735 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Endava by 80.6% in the fourth quarter. Alyeska Investment Group L.P. now owns 1,806,044 shares of the company’s stock worth $55,807,000 after buying an additional 805,903 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Endava by 187.5% in the fourth quarter. JPMorgan Chase & Co. now owns 858,894 shares of the company’s stock valued at $26,540,000 after buying an additional 560,190 shares in the last quarter. Fourth Sail Capital LP raised its holdings in shares of Endava by 52.9% during the 1st quarter. Fourth Sail Capital LP now owns 1,406,223 shares of the company’s stock valued at $27,435,000 after buying an additional 486,604 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Endava during the 4th quarter valued at about $14,698,000. 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.