Needham & Company LLC Has Lowered Expectations for Endava (NYSE:DAVA) Stock Price

Endava (NYSE:DAVA) had its price objective decreased by stock analysts at Needham & Company LLC from $43.00 to $38.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 45.82% from the company’s current price.

Several other equities analysts have also recently commented on the company. Bank of America initiated coverage on Endava in a report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price target for the company. Guggenheim cut their price target on Endava from $45.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. TD Cowen upped their price target on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Morgan Stanley upped their price target on Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Friday, January 31st. Finally, Citigroup dropped their target price on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.10.

Endava Price Performance

Shares of NYSE:DAVA opened at $26.06 on Friday. The business has a 50 day moving average price of $31.65 and a 200 day moving average price of $29.27. Endava has a twelve month low of $23.28 and a twelve month high of $68.58. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 236.91, a PEG ratio of 2.26 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.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.18). The firm had revenue of $250.63 million during the quarter, compared to analyst estimates of $197.33 million. Endava had a net margin of 0.74% and a return on equity of 0.89%. Research analysts predict that Endava will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Endava

A number of large investors have recently bought and sold shares of the business. Prescott Group Capital Management L.L.C. grew its position in Endava by 20.2% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 411,139 shares of the company’s stock worth $12,704,000 after acquiring an additional 69,135 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in Endava by 22.8% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,533,111 shares of the company’s stock worth $140,073,000 after acquiring an additional 842,433 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in Endava during the 4th quarter worth approximately $1,147,000. Woodline Partners LP bought a new stake in Endava during the 4th quarter worth approximately $10,106,000. Finally, Sovereign s Capital Management LLC bought a new stake in Endava during the 4th quarter worth approximately $4,397,000. 62.23% of the stock is currently owned by 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.