Endava plc (NYSE:DAVA) Given Average Recommendation of “Moderate Buy” by Analysts

Endava plc (NYSE:DAVA) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $51.00.

Several analysts recently commented on DAVA shares. Guggenheim started coverage on Endava in a report on Tuesday, March 19th. They issued a “buy” rating and a $60.00 target price on the stock. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 price target on shares of Endava in a research note on Monday, April 22nd. Citigroup dropped their price target on Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. TD Cowen dropped their price target on Endava from $85.00 to $52.00 and set an “outperform” rating on the stock in a research note on Friday, March 1st. Finally, HSBC raised Endava from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Wednesday, May 1st.

Endava Trading Down 0.2 %

NYSE:DAVA opened at $33.20 on Friday. The stock’s 50-day moving average is $34.36 and its 200-day moving average is $55.91. Endava has a 1-year low of $28.99 and a 1-year high of $81.06. The stock has a market cap of $1.92 billion, a P/E ratio of 22.90 and a beta of 1.14.

Endava (NYSE:DAVA) last announced 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 net margin of 8.88% and a return on equity of 11.77%. The company had revenue of $227.96 million during the quarter, compared to the consensus estimate of $231.07 million. As a group, equities analysts forecast that Endava will post 0.62 EPS for the current year.

Hedge Funds Weigh In On Endava

Institutional investors have recently modified their holdings of the company. Assetmark Inc. raised its position in shares of Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after purchasing an additional 165 shares during the period. Headlands Technologies LLC acquired a new position in shares of Endava during the first quarter worth approximately $49,000. Signaturefd LLC raised its position in Endava by 194.9% in the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock valued at $66,000 after buying an additional 762 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Endava in the 4th quarter valued at $81,000. Finally, Principal Securities Inc. purchased a new stake in Endava in the 4th quarter valued at $99,000. 62.23% of the stock is 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.