JPMorgan Chase & Co. Lowers Endava (NYSE:DAVA) Price Target to $43.00

Endava (NYSE:DAVA) had its target price trimmed by JPMorgan Chase & Co. from $49.00 to $43.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on DAVA. Morgan Stanley restated an equal weight rating and set a $40.00 price target on shares of Endava in a research report on Monday, April 22nd. Citigroup cut their price target on Endava from $40.00 to $33.00 and set a neutral rating for the company in a report on Monday, April 22nd. Guggenheim assumed coverage on Endava in a research note on Tuesday, March 19th. They set a buy rating and a $60.00 price objective on the stock. Needham & Company LLC dropped their target price on Endava from $70.00 to $50.00 and set a buy rating for the company in a report on Friday, March 1st. Finally, HSBC upgraded Endava from a hold rating to a buy rating and set a $45.00 price target on the stock in a report on Wednesday, May 1st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $51.00.

Endava Trading Down 0.8 %

DAVA stock opened at $30.90 on Thursday. Endava has a 12-month low of $28.99 and a 12-month high of $81.06. The business’s 50-day moving average is $36.25 and its 200 day moving average is $56.41. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 21.31 and a beta of 1.14.

Endava (NYSE:DAVA) last issued its quarterly 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 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 analysts’ expectations of $231.07 million. As a group, equities analysts forecast that Endava will post 0.62 EPS for the current fiscal year.

Institutional Trading of Endava

Hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. boosted its stake in Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after buying an additional 165 shares during the period. Signaturefd LLC boosted its position in shares of Endava by 194.9% during the 3rd quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after purchasing an additional 762 shares during the period. Financial Management Professionals Inc. acquired a new stake in Endava in the 4th quarter valued at approximately $81,000. Principal Securities Inc. acquired a new stake in Endava in the 4th quarter valued at approximately $99,000. Finally, Quadrant Capital Group LLC raised its position in Endava by 34.8% in the fourth quarter. Quadrant Capital Group LLC now owns 1,424 shares of the company’s stock valued at $111,000 after purchasing an additional 368 shares during the period. 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.