Endava (NYSE:DAVA) Stock Rating Upgraded by HSBC

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

A number of other research analysts have also issued reports on the company. Morgan Stanley reaffirmed an equal weight rating and set a $40.00 target price on shares of Endava in a report on Monday, April 22nd. JPMorgan Chase & Co. upgraded Endava from a neutral rating to an overweight rating and set a $49.00 price objective on the stock in a report on Tuesday, March 19th. TD Cowen decreased their target price on shares of Endava from $85.00 to $52.00 and set an outperform rating for the company in a report on Friday, March 1st. Citigroup cut their price target 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. Finally, Needham & Company LLC decreased their price objective on shares of Endava from $70.00 to $50.00 and set a buy rating for the company in a research note on Friday, March 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $51.67.

Endava Stock Up 7.7 %

NYSE:DAVA opened at $31.22 on Wednesday. The business’s 50-day moving average price is $37.67 and its 200 day moving average price is $56.81. The firm has a market cap of $1.80 billion, a P/E ratio of 21.53 and a beta of 1.10. 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). The firm had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. Endava had a return on equity of 11.77% and a net margin of 8.88%. Sell-side analysts expect that Endava will post 0.62 EPS for the current year.

Institutional Trading of Endava

Hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its stake in Endava by 5.6% in the 1st quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock valued at $353,000 after buying an additional 495 shares during the period. Precision Wealth Strategies LLC purchased a new position in shares of Endava during the 1st quarter valued at $234,000. Oak Ridge Investments LLC grew its holdings in shares of Endava by 2.6% during the 1st quarter. Oak Ridge Investments LLC now owns 64,089 shares of the company’s stock valued at $2,438,000 after acquiring an additional 1,639 shares in the last quarter. Norden Group LLC increased its stake in shares of Endava by 90.5% in the first quarter. Norden Group LLC now owns 15,544 shares of the company’s stock worth $591,000 after acquiring an additional 7,386 shares during the last quarter. Finally, RAM Investment Partners LLC raised its holdings in shares of Endava by 10.7% during the first quarter. RAM Investment Partners LLC now owns 134,955 shares of the company’s stock worth $5,134,000 after acquiring an additional 13,010 shares in the last quarter. 62.23% of the stock is owned by hedge funds and other 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.