Endava (NYSE:DAVA) Upgraded to Buy by HSBC

HSBC upgraded shares of Endava (NYSE:DAVA) from a hold rating to a buy rating in a research report released on Wednesday, MarketBeat.com reports. They currently have $45.00 price target on the stock.

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 target price for the company in a research report on Tuesday, March 19th. Citigroup decreased their target price on Endava from $40.00 to $33.00 and set a neutral rating for the company in a research report on Monday, April 22nd. Guggenheim initiated coverage on Endava in a research report on Tuesday, March 19th. They set a buy rating and a $60.00 target price for the company. Morgan Stanley reiterated an equal weight rating and set a $40.00 target price on shares of Endava in a research report on Monday, April 22nd. Finally, TD Cowen decreased their price objective on Endava from $85.00 to $52.00 and set an outperform rating for the company in a report on Friday, March 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $51.00.

Endava Stock Down 1.0 %

NYSE DAVA opened at $30.83 on Wednesday. The company has a fifty day moving average of $36.25 and a two-hundred day moving average of $56.44. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 21.26 and a beta of 1.14. Endava has a 52 week low of $28.99 and a 52 week high of $81.06.

Endava (NYSE:DAVA) last released its earnings results on Thursday, February 29th. The company reported $0.17 earnings per share 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 the consensus estimate of $231.07 million. Equities research analysts anticipate that Endava will post 0.62 EPS for the current year.

Hedge Funds Weigh In On Endava

A number of large investors have recently added to or reduced their stakes in DAVA. Handelsbanken Fonder AB raised its holdings in Endava by 62.7% in the third quarter. Handelsbanken Fonder AB now owns 8,300 shares of the company’s stock worth $476,000 after purchasing an additional 3,200 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Endava during the third quarter worth about $817,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Endava by 6.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 191,500 shares of the company’s stock worth $10,983,000 after acquiring an additional 12,000 shares during the last quarter. Raymond James & Associates grew its stake in shares of Endava by 33.6% during the third quarter. Raymond James & Associates now owns 122,851 shares of the company’s stock worth $7,046,000 after acquiring an additional 30,909 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Endava during the third quarter worth about $697,000. 62.23% of the stock is currently owned by 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.