Endava (NYSE:DAVA) Price Target Cut to $9.00 by Analysts at Needham & Company LLC

Endava (NYSE:DAVA) had its target price dropped by equities research analysts at Needham & Company LLC from $12.00 to $9.00 in a note issued to investors on Wednesday, Marketbeat reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would indicate a potential upside of 29.40% from the company’s current price.

Several other research firms also recently weighed in on DAVA. William Blair downgraded shares of Endava from an “outperform” rating to a “market perform” rating in a report on Tuesday. Guggenheim restated a “buy” rating on shares of Endava in a research report on Wednesday. Morgan Stanley decreased their price objective on shares of Endava from $17.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday, September 5th. Zacks Research upgraded shares of Endava from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Finally, JPMorgan Chase & Co. cut their target price on Endava from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, August 20th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Endava currently has an average rating of “Hold” and a consensus target price of $19.63.

Endava Trading Down 26.2%

Shares of DAVA stock opened at $6.96 on Wednesday. Endava has a 1 year low of $6.64 and a 1 year high of $34.94. The firm has a market capitalization of $390.94 million, a PE ratio of 15.46 and a beta of 1.18. The stock has a fifty day moving average of $9.24 and a two-hundred day moving average of $12.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.32 and a current ratio of 2.32.

Institutional Trading of Endava

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAVA. Quantbot Technologies LP bought a new stake in Endava during the first quarter worth approximately $25,000. GAMMA Investing LLC increased its holdings in shares of Endava by 81.0% in the second quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock valued at $26,000 after buying an additional 753 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Endava by 733.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock valued at $29,000 after acquiring an additional 1,680 shares during the last quarter. State of Wyoming boosted its stake in shares of Endava by 112.7% during the 1st quarter. State of Wyoming now owns 2,367 shares of the company’s stock worth $46,000 after acquiring an additional 1,254 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Endava by 23.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company’s stock worth $72,000 after acquiring an additional 689 shares in the last quarter. 62.23% of the stock is owned by institutional investors and hedge funds.

About Endava

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.