Endava (NYSE:DAVA) Price Target Lowered to $50.00 at Wedbush

Endava (NYSE:DAVAFree Report) had its price objective reduced by Wedbush from $65.00 to $50.00 in a research note released on Thursday morning, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. TD Cowen lowered their price target on Endava from $85.00 to $52.00 and set an outperform rating for the company in a report on Friday, March 1st. JPMorgan Chase & Co. dropped their target price on shares of Endava from $49.00 to $43.00 and set an overweight rating on the stock in a report on Thursday, May 2nd. Needham & Company LLC decreased their price target on shares of Endava from $70.00 to $50.00 and set a buy rating for the company in a report on Friday, March 1st. Morgan Stanley reaffirmed an equal weight rating and set a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd. Finally, Citigroup cut their target price on shares of Endava from $40.00 to $33.00 and set a neutral rating on the stock in a report on Monday, April 22nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Endava presently has a consensus rating of Moderate Buy and a consensus price target of $46.41.

Read Our Latest Stock Analysis on Endava

Endava Price Performance

NYSE DAVA opened at $30.03 on Thursday. The company’s fifty day moving average price is $32.62 and its two-hundred day moving average price is $54.11. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 33.37 and a beta of 1.14. Endava has a 12 month low of $28.13 and a 12 month high of $81.06.

Endava (NYSE:DAVAGet Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.10). The company had revenue of $221.14 million for the quarter, compared to the consensus estimate of $220.59 million. Endava had a return on equity of 7.13% and a net margin of 5.69%. As a group, analysts anticipate that Endava will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DAVA. Cetera Advisors LLC boosted its position in shares of Endava by 35.4% during the first quarter. Cetera Advisors LLC now owns 8,065 shares of the company’s stock worth $307,000 after buying an additional 2,110 shares during the period. Virtu Financial LLC bought a new stake in Endava during the 1st quarter valued at $596,000. Silvercrest Asset Management Group LLC boosted its position in Endava by 9.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock worth $11,868,000 after acquiring an additional 27,797 shares during the period. Lazard Asset Management LLC grew its stake in shares of Endava by 15,560.6% in the first quarter. Lazard Asset Management LLC now owns 171,170 shares of the company’s stock worth $6,511,000 after purchasing an additional 170,077 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Endava during the first quarter valued at $841,000. Institutional investors own 62.23% of the company’s stock.

About Endava

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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.

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