Brokerages Set Endava plc (NYSE:DAVA) Target Price at $51.00

Shares of Endava plc (NYSE:DAVA) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $51.00.

A number of research firms have issued reports on DAVA. Guggenheim started coverage on shares of Endava in a research report on Tuesday, March 19th. They set a “buy” rating and a $60.00 target price on the stock. JPMorgan Chase & Co. cut their price target on shares of Endava from $49.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. TD Cowen cut their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Needham & Company LLC cut their price target on shares of Endava from $70.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, HSBC upgraded shares of Endava from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research report on Wednesday, May 1st.

Endava Trading Down 0.2 %

Endava stock opened at $33.20 on Friday. Endava has a 1 year low of $28.99 and a 1 year high of $81.06. The company has a market cap of $1.92 billion, a PE ratio of 22.90 and a beta of 1.14. The company’s 50-day moving average is $34.36 and its two-hundred day moving average is $55.91.

Endava (NYSE:DAVA) last released its earnings results on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). Endava had a net margin of 8.88% and a return on equity of 11.77%. The business had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. Research analysts forecast that Endava will post 0.62 EPS for the current year.

Institutional Trading of Endava

Several hedge funds have recently bought and sold shares of DAVA. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Endava during the 3rd quarter worth approximately $58,433,000. Fourth Sail Capital LP bought a new position in shares of Endava during the 1st quarter worth approximately $27,622,000. Invesco Ltd. grew its stake in shares of Endava by 156.5% during the 3rd quarter. Invesco Ltd. now owns 866,076 shares of the company’s stock worth $49,669,000 after acquiring an additional 528,384 shares in the last quarter. Capital World Investors grew its stake in shares of Endava by 39.3% during the 4th quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after acquiring an additional 278,300 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Endava by 16.5% during the 3rd quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after acquiring an additional 256,250 shares in 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.