Guggenheim Cuts Endava (NYSE:DAVA) Price Target to $28.00

Endava (NYSE:DAVA) had its price target decreased by Guggenheim from $40.00 to $28.00 in a report published on Tuesday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other brokerages have also recently commented on DAVA. Needham & Company LLC dropped their target price on Endava from $43.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Susquehanna lowered their price objective on shares of Endava from $55.00 to $50.00 and set a “positive” rating on the stock in a research report on Friday, February 21st. Finally, Morgan Stanley lifted their target price on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.41.

Endava Price Performance

Shares of NYSE:DAVA opened at $14.77 on Tuesday. The firm’s 50 day moving average is $19.12 and its two-hundred day moving average is $25.78. Endava has a 52 week low of $14.32 and a 52 week high of $34.94. The firm has a market capitalization of $871.89 million, a P/E ratio of 134.27, a PEG ratio of 2.26 and a beta of 1.25. 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 announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.06). Endava had a net margin of 0.74% and a return on equity of 0.89%. Analysts anticipate that Endava will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On Endava

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Endava by 86.4% during the 4th quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock worth $50,000 after acquiring an additional 745 shares during the last quarter. SG Americas Securities LLC increased its stake in Endava by 1,299.1% in the fourth quarter. SG Americas Securities LLC now owns 430,366 shares of the company’s stock valued at $13,298,000 after acquiring an additional 399,605 shares during the period. Janney Montgomery Scott LLC bought a new stake in Endava in the fourth quarter valued at about $783,000. AEGON ASSET MANAGEMENT UK Plc increased its stake in Endava by 35.3% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 332,642 shares of the company’s stock valued at $10,282,000 after acquiring an additional 86,870 shares during the period. Finally, Blue Trust Inc. grew its stake in Endava by 28.5% during the fourth quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $46,000 after buying an additional 331 shares during the last quarter. 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.