Endava (NYSE:DAVA) Price Target Cut to $8.00 by Analysts at Morgan Stanley

Endava (NYSE:DAVA) had its price objective cut by Morgan Stanley from $11.00 to $8.00 in a report released on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also issued reports on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Endava in a report on Wednesday, October 8th. Cowen reissued a “hold” rating on shares of Endava in a research note on Friday, September 5th. JPMorgan Chase & Co. lowered their target price on shares of Endava from $13.00 to $10.00 and set a “neutral” rating for the company in a research note on Wednesday. Wall Street Zen cut Endava from a “buy” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Zacks Research upgraded Endava from a “strong sell” rating to a “hold” rating in a research report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Endava currently has an average rating of “Hold” and a consensus price target of $18.00.

Endava Price Performance

Endava stock traded down $0.37 during mid-day trading on Thursday, hitting $6.54. 1,985,643 shares of the company were exchanged, compared to its average volume of 1,233,744. Endava has a 12-month low of $6.52 and a 12-month high of $34.94. The company has a market capitalization of $367.78 million, a P/E ratio of 32.72 and a beta of 1.18. The business’s 50 day simple moving average is $8.96 and its two-hundred day simple moving average is $12.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.32 and a quick ratio of 2.32.

Institutional Trading of Endava

Several large investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC grew its stake in Endava by 23.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company’s stock valued at $72,000 after buying an additional 689 shares during the last quarter. GAMMA Investing LLC lifted its position in Endava by 81.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock worth $26,000 after acquiring an additional 753 shares during the last quarter. Investors Research Corp boosted its holdings in Endava by 7.4% during the second quarter. Investors Research Corp now owns 11,950 shares of the company’s stock valued at $183,000 after acquiring an additional 825 shares during the period. Strengthening Families & Communities LLC grew its position in shares of Endava by 13.0% in the first quarter. Strengthening Families & Communities LLC now owns 9,997 shares of the company’s stock valued at $209,000 after purchasing an additional 1,153 shares during the last quarter. Finally, State of Wyoming grew its position in shares of Endava by 112.7% in the first quarter. State of Wyoming now owns 2,367 shares of the company’s stock valued at $46,000 after purchasing an additional 1,254 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.