Endava (NYSE:DAVA) Shares Gap Up – Should You Buy?

Endava plc (NYSE:DAVA)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $28.50, but opened at $30.56. Endava shares last traded at $31.23, with a volume of 313,820 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Needham & Company LLC lowered their target price on Endava from $42.00 to $33.00 and set a “buy” rating for the company in a report on Friday, September 20th. Susquehanna cut their price target on Endava from $66.00 to $55.00 and set a “positive” rating on the stock in a research note on Friday, September 20th. Citigroup lowered their price objective on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, October 28th. Finally, Guggenheim cut their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.61.

Endava Stock Down 0.3 %

The business’s fifty day moving average price is $26.76 and its two-hundred day moving average price is $28.54. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.74 and a current ratio of 1.74. The firm has a market capitalization of $1.70 billion, a P/E ratio of 210.14 and a beta of 1.21.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a net margin of 0.92% and a return on equity of 1.11%. The firm had revenue of $245.30 million during the quarter, compared to analyst estimates of $248.65 million. Equities analysts expect that Endava plc will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Endava

Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Endava in the first quarter valued at approximately $832,000. XTX Topco Ltd purchased a new stake in Endava in the 2nd quarter worth $941,000. AEGON ASSET MANAGEMENT UK Plc raised its position in shares of Endava by 8.7% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company’s stock worth $6,279,000 after purchasing an additional 19,669 shares during the last quarter. Horrell Capital Management Inc. raised its holdings in shares of Endava by 76.5% during the third quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company’s stock valued at $3,831,000 after acquiring an additional 65,000 shares during the last quarter. Finally, Silvercrest Asset Management Group LLC raised its stake in Endava by 9.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 311,992 shares of the company’s stock valued at $11,868,000 after purchasing an additional 27,797 shares during the last quarter. Institutional investors and hedge funds own 62.23% of the company’s stock.

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.