Endava (NYSE:DAVA) Coverage Initiated at Bank of America

Equities research analysts at Bank of America initiated coverage on shares of Endava (NYSE:DAVA) in a research note issued on Friday,Briefing.com Automated Import reports. The firm set a “neutral” rating and a $29.00 price target on the stock. Bank of America‘s target price would suggest a potential upside of 1.72% from the stock’s current price.

DAVA has been the subject of several other reports. Citigroup decreased their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on Endava from $41.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Needham & Company LLC boosted their price objective on Endava from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. TD Cowen boosted their price objective on Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Guggenheim decreased their price objective on Endava from $45.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.83.

Endava Price Performance

Endava stock opened at $28.51 on Friday. The firm has a market capitalization of $1.65 billion, a P/E ratio of 203.64 and a beta of 1.21. Endava has a 1 year low of $23.28 and a 1 year high of $81.06. The business has a 50-day moving average of $26.35 and a 200-day moving average of $28.41. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.21.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, September 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.13). Endava had a return on equity of 1.10% and a net margin of 0.92%. The company had revenue of $245.30 million for the quarter, compared to analyst estimates of $248.65 million. On average, equities analysts anticipate that Endava will post 0.77 EPS for the current year.

Institutional Investors Weigh In On Endava

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new position in Endava in the 3rd quarter valued at $30,000. Signaturefd LLC grew its holdings in Endava by 84.1% in the 3rd quarter. Signaturefd LLC now owns 1,939 shares of the company’s stock valued at $50,000 after buying an additional 886 shares in the last quarter. Seven Eight Capital LP acquired a new stake in shares of Endava during the 2nd quarter worth $216,000. Precision Wealth Strategies LLC grew its holdings in shares of Endava by 6.7% during the 3rd quarter. Precision Wealth Strategies LLC now owns 8,571 shares of the company’s stock worth $219,000 after purchasing an additional 540 shares in the last quarter. Finally, Strengthening Families & Communities LLC grew its holdings in shares of Endava by 11.4% during the 3rd quarter. Strengthening Families & Communities LLC now owns 9,116 shares of the company’s stock worth $233,000 after purchasing an additional 933 shares in the last quarter. Institutional investors 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.