JPMorgan Chase & Co. Downgrades Endava (NYSE:DAVA) to Underweight

Endava (NYSE:DAVA) was downgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Friday. They currently have a $5.00 target price on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 49.48% from the company’s previous close.

A number of other brokerages have also issued reports on DAVA. Guggenheim decreased their price target on Endava from $15.00 to $13.00 and set a “buy” rating for the company in a research note on Friday, February 13th. Needham & Company LLC decreased their price target on Endava from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday. TD Cowen decreased their price target on Endava from $6.50 to $6.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Endava in a research note on Tuesday, April 7th. Finally, CLSA set a $5.00 price objective on Endava in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.00.

Endava Stock Performance

Shares of NYSE DAVA opened at $3.35 on Friday. The stock has a fifty day moving average price of $4.37 and a two-hundred day moving average price of $5.64. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.39 and a current ratio of 2.39. The firm has a market cap of $188.02 million, a P/E ratio of -30.41 and a beta of 1.11. Endava has a 1 year low of $3.20 and a 1 year high of $17.36.

Institutional Investors Weigh In On Endava

Several large investors have recently modified their holdings of DAVA. Advisory Services Network LLC purchased a new stake in shares of Endava in the third quarter valued at $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Endava by 733.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock valued at $29,000 after purchasing an additional 1,680 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Endava by 901.8% in the fourth quarter. Quadrant Capital Group LLC now owns 6,101 shares of the company’s stock valued at $39,000 after purchasing an additional 5,492 shares in the last quarter. Perennial Advisors LLC purchased a new stake in shares of Endava in the fourth quarter valued at $63,000. Finally, Vident Advisory LLC purchased a new stake in shares of Endava in the fourth quarter valued at $68,000. 62.23% of the stock is owned by institutional investors.

About Endava

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.