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

Endava (NYSE:DAVA)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a note issued to investors on Monday, Benzinga reports. They currently have a $40.00 target price on the stock. Morgan Stanley’s price objective would suggest a potential upside of 32.01% from the stock’s current price.

Several other analysts also recently weighed in on the company. 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 research report on Tuesday, March 19th. TD Cowen dropped their price target on shares of Endava from $85.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. HSBC lowered shares of Endava from a “buy” rating to a “hold” rating and raised their price target for the stock from $68.00 to $80.00 in a report on Monday, January 8th. Guggenheim initiated coverage on shares of Endava in a research note on Tuesday, March 19th. They set a “buy” rating and a $60.00 price objective for the company. Finally, Citigroup cut their target price on Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.56.

Endava Stock Performance

Shares of Endava stock opened at $30.30 on Monday. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 20.90 and a beta of 1.10. The company has a fifty day moving average of $42.12 and a 200-day moving average of $58.01. Endava has a 52-week low of $29.54 and a 52-week high of $81.06.

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 the consensus estimate of $0.18 by ($0.01). The business had revenue of $227.96 million for the quarter, compared to analysts’ expectations of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. On average, equities research analysts forecast that Endava will post 0.62 earnings per share for the current fiscal year.

Institutional Trading of Endava

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. raised its position in shares of Endava by 47.8% in the 4th quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares in the last quarter. Financial Management Professionals Inc. bought a new position in Endava in the fourth quarter worth $81,000. Signaturefd LLC lifted its position in Endava by 194.9% during the third 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 period. Global Retirement Partners LLC boosted its holdings in shares of Endava by 41.8% during the 3rd quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock valued at $69,000 after buying an additional 364 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Endava during the 4th quarter valued at $99,000. 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.