Needham & Company LLC Issues Positive Forecast for Endava (NYSE:DAVA) Stock Price

Endava (NYSE:DAVA) had its price target increased by research analysts at Needham & Company LLC from $36.00 to $43.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 37.60% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. TD Cowen boosted their price objective on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Susquehanna reduced their price target on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research report on Friday, September 20th. Bank of America started coverage on shares of Endava in a research report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price objective for the company. Citigroup dropped their price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Finally, Guggenheim decreased their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.46.

Endava Stock Performance

Shares of DAVA stock opened at $31.25 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.84 billion, a PE ratio of 223.21, a P/E/G ratio of 2.16 and a beta of 1.22. The company’s fifty day simple moving average is $29.03 and its 200-day simple moving average is $28.86. Endava has a 52 week low of $23.28 and a 52 week high of $81.06.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Precision Wealth Strategies LLC raised its stake in shares of Endava by 6.7% in the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock valued at $219,000 after purchasing an additional 540 shares in the last quarter. GAMMA Investing LLC increased its holdings in Endava by 86.4% in the fourth quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $50,000 after buying an additional 745 shares during the last quarter. Signaturefd LLC raised its stake in Endava by 84.1% during the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after buying an additional 886 shares in the last quarter. Strengthening Families & Communities LLC lifted its holdings in Endava by 11.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock worth $233,000 after buying an additional 933 shares during the last quarter. Finally, Blue Trust Inc. acquired a new position in shares of Endava in the 3rd quarter worth approximately $30,000. 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.