Endava (NYSE:DAVA) Stock Rating Reaffirmed by Morgan Stanley

Morgan Stanley restated their equal weight rating on shares of Endava (NYSE:DAVA) in a research report sent to investors on Monday, Benzinga reports. They currently have a $40.00 price objective on the stock.

Several other research firms have also recently commented on DAVA. TD Cowen reduced their target price on Endava from $85.00 to $52.00 and set an outperform rating for the company in a research report on Friday, March 1st. Citigroup cut their price objective on Endava from $40.00 to $33.00 and set a neutral rating for the company in a report on Monday. Needham & Company LLC cut their price objective on Endava from $70.00 to $50.00 and set a buy rating for the company in a report on Friday, March 1st. Guggenheim initiated coverage on Endava in a report on Tuesday, March 19th. They issued a buy rating and a $60.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded Endava from a neutral rating to an overweight rating and set a $49.00 price objective for the company in a report on Tuesday, March 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Endava presently has a consensus rating of Moderate Buy and an average price target of $55.56.

Endava Stock Down 3.1 %

Endava stock opened at $29.09 on Monday. Endava has a 52 week low of $29.02 and a 52 week high of $81.06. The business has a 50-day simple moving average of $40.60 and a 200 day simple moving average of $57.61. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 20.06 and a beta of 1.10.

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

Institutional Investors Weigh In On Endava

Institutional investors have recently bought and sold shares of the stock. Redwood Investments LLC boosted its holdings in Endava by 666.2% during the 4th quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock valued at $3,149,000 after acquiring an additional 35,175 shares during the period. Simon Quick Advisors LLC purchased a new stake in Endava during the 4th quarter valued at about $5,074,000. Adage Capital Partners GP L.L.C. boosted its holdings in Endava by 76.9% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 115,000 shares of the company’s stock valued at $6,595,000 after acquiring an additional 50,000 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Endava during the 3rd quarter valued at about $280,000. Finally, FMR LLC boosted its holdings in Endava by 16.5% during the 3rd quarter. FMR LLC now owns 1,807,318 shares of the company’s stock valued at $103,650,000 after acquiring an additional 256,250 shares during the period. 62.23% of the stock is currently owned by hedge funds and other institutional investors.

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.