Needham & Company LLC Forecasts Strong Price Appreciation for Endava (NYSE:DAVA) Stock

Endava (NYSE:DAVA) had its price objective lifted by Needham & Company LLC from $36.00 to $43.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Endava Stock Performance

DAVA opened at $31.25 on Friday. The company has a market cap of $1.84 billion, a P/E ratio of 223.21, a price-to-earnings-growth ratio of 2.16 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $29.18 and its 200-day moving average price is $28.89. Endava has a 52-week low of $23.28 and a 52-week high of $81.06.

Hedge Funds Weigh In On Endava

A number of large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. acquired a new position in Endava during the third quarter worth about $30,000. Signaturefd LLC grew its position in shares of Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after purchasing an additional 886 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 745 shares during the last quarter. Seven Eight Capital LP purchased a new position in Endava during the second quarter worth approximately $216,000. Finally, Precision Wealth Strategies LLC lifted its position in Endava by 6.7% during the third quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after buying an additional 540 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors and hedge funds.

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.