Endava plc (NYSE:DAVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Endava plc (NYSE:DAVA) have been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $46.41.

A number of equities research analysts have recently weighed in on the company. HSBC raised Endava from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a research note on Wednesday, May 1st. TD Cowen cut their target price on shares of Endava from $46.00 to $42.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Citigroup decreased their target price on shares of Endava from $40.00 to $33.00 and set a “neutral” rating on the stock in a research note on Monday, April 22nd. Redburn Atlantic started coverage on shares of Endava in a research report on Friday, May 24th. They set a “neutral” rating and a $33.10 price target for the company. Finally, Morgan Stanley restated an “equal weight” rating and issued a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd.

Endava Stock Performance

DAVA stock opened at $30.31 on Thursday. Endava has a one year low of $24.51 and a one year high of $81.06. The company has a market capitalization of $1.75 billion, a PE ratio of 33.68 and a beta of 1.22. The company’s 50 day moving average price is $28.54 and its two-hundred day moving average price is $42.12.

Endava (NYSE:DAVA) last issued its earnings results on Thursday, May 23rd. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). The business had revenue of $221.14 million during the quarter, compared to analysts’ expectations of $220.59 million. Endava had a return on equity of 7.13% and a net margin of 5.69%. On average, research analysts predict that Endava will post 0.51 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in DAVA. Redwood Investments LLC increased its position in shares of Endava by 666.2% during the fourth quarter. Redwood Investments LLC now owns 40,455 shares of the company’s stock valued at $3,149,000 after buying an additional 35,175 shares during the period. Simon Quick Advisors LLC bought a new position in shares of Endava in the 4th quarter worth approximately $5,074,000. US Bancorp DE lifted its stake in shares of Endava by 2,113.9% in the 4th quarter. US Bancorp DE now owns 16,427 shares of the company’s stock valued at $1,279,000 after purchasing an additional 15,685 shares during the period. George Kaiser Family Foundation purchased a new position in shares of Endava in the 1st quarter valued at approximately $1,136,000. Finally, SG Americas Securities LLC bought a new stake in shares of Endava during the first quarter valued at approximately $832,000. 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.