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

Morgan Stanley reiterated their equal weight rating on shares of Endava (NYSE:DAVA) in a report released on Monday, Benzinga reports. Morgan Stanley currently has a $40.00 price objective on the stock.

Several other analysts have also weighed in on DAVA. Citigroup reduced their price objective on Endava from $40.00 to $33.00 and set a neutral rating on the stock in a research note on Monday. Guggenheim assumed coverage on Endava in a research report on Tuesday, March 19th. They issued a buy rating and a $60.00 target price for the company. HSBC downgraded Endava from a buy rating to a hold rating and increased their target price for the company from $68.00 to $80.00 in a research report on Monday, January 8th. 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. Finally, 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 research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Endava presently has an average rating of Moderate Buy and a consensus target price of $55.56.

Endava Stock Down 3.1 %

NYSE:DAVA opened at $29.09 on Monday. The stock’s 50-day simple moving average is $40.60 and its 200 day simple moving average is $57.61. The firm has a market capitalization of $1.68 billion, a PE ratio of 20.06 and a beta of 1.10. Endava has a twelve month low of $29.02 and a twelve month high of $81.06.

Endava (NYSE:DAVA) last released its quarterly earnings data 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). The business had revenue of $227.96 million during the quarter, compared to analyst estimates of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. On average, analysts anticipate that Endava will post 0.62 EPS for the current fiscal year.

Hedge Funds Weigh In On Endava

A number of hedge funds have recently made changes to their positions in DAVA. Assetmark Inc. raised its position in shares of Endava by 47.8% during the fourth quarter. Assetmark Inc. now owns 510 shares of the company’s stock worth $40,000 after acquiring an additional 165 shares during the last quarter. Signaturefd LLC raised its position in shares of Endava by 194.9% during the third quarter. Signaturefd LLC now owns 1,153 shares of the company’s stock worth $66,000 after acquiring an additional 762 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Endava by 41.8% in the third quarter. Global Retirement Partners LLC now owns 1,234 shares of the company’s stock worth $69,000 after purchasing an additional 364 shares in the last quarter. Financial Management Professionals Inc. bought a new stake in Endava in the fourth quarter worth approximately $81,000. Finally, Principal Securities Inc. bought a new stake in Endava in the fourth quarter worth approximately $99,000. 62.23% of the stock is currently owned by institutional investors.

About Endava

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.