Endava (NYSE:DAVA) Price Target Lowered to $5.00 at Needham & Company LLC

Endava (NYSE:DAVA) had its target price cut by research analysts at Needham & Company LLC from $7.00 to $5.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 50.88% from the company’s previous close.

A number of other research analysts have also weighed in on DAVA. Guggenheim reduced their price target on Endava from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. JPMorgan Chase & Co. cut their target price on Endava from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Wall Street Zen raised Endava from a “sell” rating to a “hold” rating in a research report on Sunday, February 8th. TD Cowen cut their target price on Endava from $6.50 to $6.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Endava in a research report on Tuesday, April 7th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $9.17.

Endava Trading Down 17.2%

Shares of Endava stock traded down $0.69 during trading hours on Thursday, reaching $3.31. 1,772,595 shares of the company’s stock were exchanged, compared to its average volume of 402,294. Endava has a 52-week low of $3.20 and a 52-week high of $17.36. The firm has a market capitalization of $186.28 million, a price-to-earnings ratio of -29.68 and a beta of 1.11. The company has a fifty day moving average of $4.40 and a 200-day moving average of $5.68. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 0.36.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC raised its position in Endava by 733.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock valued at $29,000 after purchasing an additional 1,680 shares during the period. Advisory Services Network LLC acquired a new stake in shares of Endava during the third quarter valued at about $28,000. Quadrant Capital Group LLC increased its position in shares of Endava by 901.8% during the fourth quarter. Quadrant Capital Group LLC now owns 6,101 shares of the company’s stock worth $39,000 after acquiring an additional 5,492 shares during the last quarter. Perennial Advisors LLC purchased a new stake in shares of Endava during the fourth quarter worth about $63,000. Finally, Vident Advisory LLC purchased a new stake in shares of Endava during the second quarter worth about $160,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

About Endava

Endava PLC is a publicly traded technology services company specializing in digital transformation and agile software development. The firm helps enterprise clients design, build and manage custom software solutions across industries such as financial services, payments, retail, telecommunications and media. Its service offerings span end-to-end product design, customer experience, application development, quality engineering, DevOps, automation and artificial intelligence, all delivered through agile methodologies.

Founded in 2000, Endava has grown from a small software provider into a global IT partner.