Susquehanna Lowers Endava (NYSE:DAVA) Price Target to $50.00

Endava (NYSE:DAVA) had its price target decreased by investment analysts at Susquehanna from $55.00 to $50.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 85.63% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Needham & Company LLC reduced their target price on Endava from $43.00 to $38.00 and set a “buy” rating for the company in a report on Friday. Bank of America began coverage on Endava in a research note on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price objective for the company. Citigroup lowered their target price on shares of Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, October 28th. Guggenheim reduced their target price on shares of Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Finally, Morgan Stanley boosted their price target on shares of Endava from $33.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Endava has a consensus rating of “Moderate Buy” and a consensus price target of $39.10.

Endava Price Performance

DAVA stock traded down $1.37 during mid-day trading on Friday, reaching $26.94. 147,380 shares of the company’s stock were exchanged, compared to its average volume of 349,025. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. Endava has a 12-month low of $23.28 and a 12-month high of $68.58. The stock’s 50 day moving average is $31.72 and its 200 day moving average is $29.30. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 192.39, a price-to-earnings-growth ratio of 2.44 and a beta of 1.22.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, February 20th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.18). The business had revenue of $250.63 million for the quarter, compared to analysts’ expectations of $197.33 million. Endava had a net margin of 0.92% and a return on equity of 1.10%. On average, research analysts expect that Endava will post 0.57 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Blue Trust Inc. purchased a new stake in shares of Endava in the 3rd quarter valued at approximately $30,000. Raymond James & Associates increased its holdings in Endava by 3.4% in the 3rd quarter. Raymond James & Associates now owns 107,042 shares of the company’s stock valued at $2,734,000 after purchasing an additional 3,513 shares during the last quarter. Signaturefd LLC raised its position in Endava by 84.1% in the third quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after purchasing an additional 886 shares during the period. Horrell Capital Management Inc. lifted its stake in Endava by 76.5% during the third quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company’s stock worth $3,831,000 after purchasing an additional 65,000 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Endava by 15.3% during the third quarter. US Bancorp DE now owns 18,058 shares of the company’s stock worth $461,000 after buying an additional 2,398 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.

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.