JPMorgan Chase & Co. Issues Pessimistic Forecast for Endava (NYSE:DAVA) Stock Price

Endava (NYSE:DAVA) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $13.00 to $10.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 40.45% from the stock’s current price.

Other research analysts also recently issued research reports about the company. Morgan Stanley lowered their target price on Endava from $17.00 to $11.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. William Blair cut Endava from an “outperform” rating to a “market perform” rating in a report on Tuesday. Zacks Research upgraded Endava from a “strong sell” rating to a “hold” rating in a report on Friday, November 7th. Needham & Company LLC cut their target price on Endava from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Endava in a report on Thursday, July 17th. They issued a “hold” rating and a $14.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Endava currently has a consensus rating of “Hold” and a consensus price target of $18.38.

Endava Trading Up 2.4%

NYSE DAVA traded up $0.17 during trading on Wednesday, hitting $7.12. The company had a trading volume of 826,728 shares, compared to its average volume of 857,679. Endava has a one year low of $6.64 and a one year high of $34.94. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average is $9.24 and its 200-day moving average is $12.98. The company has a market cap of $400.22 million, a price-to-earnings ratio of 15.90 and a beta of 1.18.

Institutional Trading of Endava

Institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in Endava in the 1st quarter valued at $25,000. GAMMA Investing LLC lifted its stake in Endava by 81.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock worth $26,000 after acquiring an additional 753 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Endava by 733.6% in 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 in the last quarter. State of Wyoming increased its stake in Endava by 112.7% during the first quarter. State of Wyoming now owns 2,367 shares of the company’s stock worth $46,000 after purchasing an additional 1,254 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Endava by 23.5% in the first quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company’s stock valued at $72,000 after purchasing an additional 689 shares during the period. 62.23% of the stock is owned by institutional investors and hedge funds.

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.