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

Endava (NYSE:DAVA) had its target price cut by Needham & Company LLC from $42.00 to $33.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 23.97% from the company’s previous close.

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

Endava Stock Down 3.8 %

NYSE DAVA opened at $26.62 on Friday. The firm has a market cap of $1.54 billion, a PE ratio of 29.58 and a beta of 1.22. The company has a 50 day moving average price of $30.58 and a 200 day moving average price of $30.95. Endava has a 52 week low of $24.51 and a 52 week high of $81.06.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAVA. Fourth Sail Capital LP acquired a new position in Endava during the first quarter valued at $27,622,000. Paradice Investment Management LLC purchased a new stake in shares of Endava in the second quarter worth about $18,695,000. Capital World Investors boosted its stake in shares of Endava by 39.3% in the fourth quarter. Capital World Investors now owns 987,200 shares of the company’s stock worth $76,854,000 after buying an additional 278,300 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Endava by 64.5% in the second quarter. Millennium Management LLC now owns 571,021 shares of the company’s stock worth $16,697,000 after buying an additional 223,964 shares during the last quarter. Finally, Norden Group LLC boosted its stake in shares of Endava by 2,587.6% in the first quarter. Norden Group LLC now owns 219,254 shares of the company’s stock worth $8,340,000 after buying an additional 211,096 shares during 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.