Endava (NYSE:DAVA) Coverage Initiated by Analysts at Redburn Atlantic

Redburn Atlantic initiated coverage on shares of Endava (NYSE:DAVA) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage issued a neutral rating and a $33.10 price target on the stock.

Several other equities research analysts also recently weighed in on the company. HSBC raised Endava from a hold rating to a buy rating and set a $45.00 price objective on the stock in a report on Wednesday, May 1st. TD Cowen dropped their price target on shares of Endava from $85.00 to $52.00 and set an outperform rating on the stock in a research report on Friday, March 1st. Citigroup decreased their price objective on shares of Endava from $40.00 to $33.00 and set a neutral rating for the company in a research report on Monday, April 22nd. Needham & Company LLC cut their price target on shares of Endava from $70.00 to $50.00 and set a buy rating on the stock in a research report on Friday, March 1st. Finally, Guggenheim started coverage on Endava in a research note on Tuesday, March 19th. They issued a buy rating and a $60.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $46.41.

Endava Trading Down 3.1 %

NYSE DAVA traded down $0.95 during trading on Friday, reaching $30.03. The company’s stock had a trading volume of 1,162,573 shares, compared to its average volume of 656,053. Endava has a 12 month low of $28.13 and a 12 month high of $81.06. The firm has a 50 day moving average price of $32.75 and a 200 day moving average price of $54.28. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 33.38 and a beta of 1.14.

Endava (NYSE:DAVA) last announced its quarterly earnings data on Thursday, May 23rd. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). The firm had revenue of $221.14 million during the quarter, compared to the consensus estimate of $220.59 million. Endava had a net margin of 5.69% and a return on equity of 7.13%. On average, equities analysts forecast that Endava will post 0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in DAVA. Signaturefd LLC raised its holdings in shares of Endava by 194.9% in 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. NBC Securities Inc. bought a new position in shares of Endava during the 3rd quarter worth $277,000. abrdn plc raised its stake in Endava by 37.8% in the 3rd quarter. abrdn plc now owns 178,366 shares of the company’s stock valued at $10,229,000 after acquiring an additional 48,885 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in Endava during the third quarter valued at about $313,000. Finally, Janney Montgomery Scott LLC bought a new position in Endava during the third quarter worth about $280,000. 62.23% of the stock is 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.