Guggenheim Cuts Endava (NYSE:DAVA) Price Target to $40.00

by · The Markets Daily

Endava (NYSE:DAVA – Get Free Report) had its target price dropped by analysts at Guggenheim from $45.00 to $40.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target would indicate a potential upside of 61.94% from the company’s current price.

Several other analysts have also weighed in on DAVA. Needham & Company LLC lowered their target price on Endava from $42.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. raised their price target on Endava from $41.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Citigroup reduced their target price on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Finally, Susquehanna decreased their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.21.

Read Our Latest Stock Analysis on DAVA

Endava Stock Up 4.6 %

Shares of NYSE:DAVA traded up $1.09 during trading on Wednesday, hitting $24.70. 240,897 shares of the company were exchanged, compared to its average volume of 527,489. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.74 and a quick ratio of 1.74. The firm’s 50 day moving average price is $27.25 and its 200-day moving average price is $28.63. The stock has a market capitalization of $1.43 billion, a P/E ratio of 68.72 and a beta of 1.21. Endava has a 12-month low of $23.28 and a 12-month high of $81.06.

Endava (NYSE:DAVA – Get Free Report) last announced its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.13). The firm had revenue of $245.30 million during the quarter, compared to analyst estimates of $248.65 million. Endava had a net margin of 2.30% and a return on equity of 2.75%. On average, research analysts predict that Endava will post 0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DAVA. BNP Paribas Financial Markets grew its holdings in Endava by 5.6% during the 1st quarter. BNP Paribas Financial Markets now owns 9,273 shares of the company’s stock worth $353,000 after acquiring an additional 495 shares in the last quarter. Precision Wealth Strategies LLC raised its stake in Endava by 6.7% during the third quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock valued at $219,000 after buying an additional 540 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Endava by 84.1% in the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after acquiring an additional 886 shares during the last quarter. Portside Wealth Group LLC increased its stake in Endava by 7.7% during the second quarter. Portside Wealth Group LLC now owns 15,268 shares of the company’s stock valued at $446,000 after purchasing an additional 1,090 shares during the last quarter. Finally, Blue Trust Inc. bought a new position in Endava in the third quarter worth about $30,000. Institutional investors and hedge funds own 62.23% of the company’s stock.

About Endava

(Get Free Report)

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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