Endava (NYSE:DAVA) Price Target Lowered to $33.00 at Citigroup

Endava (NYSE:DAVA) had its price objective lowered by Citigroup from $40.00 to $33.00 in a research note released on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

DAVA has been the topic of a number of other research reports. JPMorgan Chase & Co. raised Endava from a neutral rating to an overweight rating and set a $49.00 price objective on the stock in a research report on Tuesday, March 19th. Morgan Stanley downgraded Endava from an overweight rating to an equal weight rating and raised their price objective for the company from $68.00 to $80.00 in a research report on Wednesday, January 24th. TD Cowen dropped their price objective on Endava from $85.00 to $52.00 and set an outperform rating on the stock in a research report on Friday, March 1st. HSBC downgraded Endava from a buy rating to a hold rating and raised their price objective for the company from $68.00 to $80.00 in a research report on Monday, January 8th. Finally, Needham & Company LLC dropped their price objective on Endava from $70.00 to $50.00 and set a buy rating on the stock in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $55.56.

Endava Trading Down 0.7 %

DAVA opened at $29.71 on Monday. Endava has a 12-month low of $29.54 and a 12-month high of $81.06. The business’s fifty day simple moving average is $42.84 and its 200-day simple moving average is $58.21. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 20.49 and a beta of 1.10.

Endava (NYSE:DAVA) last posted its quarterly 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 return on equity of 11.77% and a net margin of 8.88%. The firm had revenue of $227.96 million for the quarter, compared to the consensus estimate of $231.07 million. On average, equities research analysts predict that Endava will post 0.62 EPS for the current year.

Institutional Investors Weigh In On Endava

Institutional investors have recently added to or reduced their stakes in the business. Redwood Investments LLC boosted its holdings in Endava by 666.2% in the fourth quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock worth $3,149,000 after acquiring an additional 35,175 shares in the last quarter. Simon Quick Advisors LLC purchased a new position in shares of Endava in the fourth quarter worth about $5,074,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Endava by 76.9% in the third quarter. Adage Capital Partners GP L.L.C. now owns 115,000 shares of the company’s stock worth $6,595,000 after purchasing an additional 50,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of Endava in the third quarter worth about $280,000. Finally, FMR LLC raised its stake in shares of Endava by 16.5% in the third quarter. FMR LLC now owns 1,807,318 shares of the company’s stock worth $103,650,000 after purchasing an additional 256,250 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

About Endava

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.