Endava (DAVA) Lifted to “Buy” at Zacks Investment Research

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Zacks Investment Research upgraded shares of Endava (NYSE:DAVA) from a hold rating to a buy rating in a research report released on Wednesday morning. Zacks Investment Research currently has $27.00 price objective on the stock.

According to Zacks, “Endava Plc provides information technology services. It offers software engineering, cloud transformation, test automation, technology consulting and other related services. The company serves finance, insurance and healthcare, retail and consumer goods, media and technology and communication industry. Endava Plc is based in London, United Kingdom. “

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley initiated coverage on Endava in a report on Tuesday, August 21st. They set a weight rating and a $29.00 price objective on the stock. Citigroup decreased their price objective on Endava from $30.00 to $27.00 and set a neutral rating on the stock in a report on Friday, October 12th. Credit Suisse Group initiated coverage on Endava in a report on Tuesday, August 21st. They set a neutral rating and a $27.00 price objective on the stock. Deutsche Bank initiated coverage on Endava in a report on Wednesday, August 22nd. They set a hold rating and a $29.00 price objective on the stock. Finally, Cowen began coverage on Endava in a report on Tuesday, August 21st. They set an outperform rating and a $27.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of Hold and an average price target of $27.83.

DAVA stock opened at $23.50 on Wednesday. Endava has a 52-week low of $21.13 and a 52-week high of $31.50.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Thursday, November 29th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.08. The business had revenue of $66.40 million for the quarter, compared to analyst estimates of $62.26 million. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year. Equities analysts predict that Endava will post 0.83 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Pendal Group Ltd acquired a new position in Endava in the third quarter valued at $333,000. Pentwater Capital Management LP acquired a new position in Endava in the third quarter valued at $485,000. Marshall Wace North America L.P. acquired a new position in Endava in the third quarter valued at $608,000. Zimmer Partners LP acquired a new position in Endava in the third quarter valued at $856,000. Finally, Citadel Advisors LLC acquired a new position in Endava in the third quarter valued at $917,000. Hedge funds and other institutional investors own 12.54% of the company’s stock.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, logistics, and retail verticals in Europe, Latin America, and the United States. It offers strategy, creative and user experience, insights through data, mobile and Internet of Things, architecture, smart automation, software engineering, test automation and engineering, continuous delivery, cloud, applications management, and smart desk services across the digital evolution, agile transformation, and automation solution areas.

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