Endava (NYSE:DAVA) Price Target Lowered to $33.00 at Needham & Company LLC

Endava (NYSE:DAVA) had its price objective cut by Needham & Company LLC from $42.00 to $33.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also recently weighed in on DAVA. Guggenheim dropped their price target on shares of Endava from $55.00 to $45.00 and set a buy rating for the company in a research report on Monday, September 16th. Wedbush cut their price objective on Endava from $65.00 to $50.00 and set an outperform rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. boosted their target price on Endava from $41.00 to $47.00 and gave the company an overweight rating in a research note on Friday, September 6th. Redburn Atlantic started coverage on shares of Endava in a research report on Friday, May 24th. They issued a neutral rating and a $33.10 target price for the company. Finally, TD Cowen reduced their price target on shares of Endava from $46.00 to $42.00 and set a buy rating on the stock in a research report on Friday, May 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $42.31.

Endava Price Performance

DAVA opened at $26.66 on Friday. Endava has a 1 year low of $24.51 and a 1 year high of $81.06. The stock’s 50 day simple moving average is $30.58 and its 200 day simple moving average is $30.99. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 29.62 and a beta of 1.22.

Institutional Investors Weigh In On Endava

A number of institutional investors have recently modified their holdings of DAVA. US Bancorp DE boosted its stake in Endava by 2,113.9% in the 4th quarter. US Bancorp DE now owns 16,427 shares of the company’s stock worth $1,279,000 after purchasing an additional 15,685 shares in the last quarter. George Kaiser Family Foundation bought a new position in shares of Endava in the first quarter worth approximately $1,136,000. SG Americas Securities LLC purchased a new stake in shares of Endava during the first quarter valued at approximately $832,000. Neuberger Berman Group LLC bought a new stake in shares of Endava during the fourth quarter valued at approximately $1,837,000. Finally, Advisory Services Network LLC increased its position in shares of Endava by 51.8% during the fourth quarter. Advisory Services Network LLC now owns 5,749 shares of the company’s stock valued at $448,000 after acquiring an additional 1,963 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.