Endava (NYSE:DAVA) Upgraded at HSBC

HSBC upgraded shares of Endava (NYSE:DAVA) from a hold rating to a buy rating in a research note published on Wednesday morning, Marketbeat.com reports. They currently have $45.00 target price on the stock.

A number of other analysts have also weighed in on DAVA. Morgan Stanley reaffirmed an equal weight rating and set a $40.00 price objective on shares of Endava in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised Endava from a neutral rating to an overweight rating and set a $49.00 price target on the stock in a research report on Tuesday, March 19th. TD Cowen decreased their price objective on Endava from $85.00 to $52.00 and set an outperform rating for the company in a research note on Friday, March 1st. Needham & Company LLC cut their target price on shares of Endava from $70.00 to $50.00 and set a buy rating on the stock in a research note on Friday, March 1st. Finally, Guggenheim initiated coverage on shares of Endava in a research note on Tuesday, March 19th. They issued a buy rating and a $60.00 price target for the company. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $51.00.

Endava Price Performance

Shares of Endava stock opened at $30.90 on Wednesday. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of 21.31 and a beta of 1.14. The business has a 50-day moving average of $36.25 and a 200 day moving average of $56.42. Endava has a 12 month low of $28.99 and a 12 month high of $81.06.

Endava (NYSE:DAVA) last posted its quarterly earnings data on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $227.96 million during the quarter, compared to analysts’ expectations of $231.07 million. Endava had a net margin of 8.88% and a return on equity of 11.77%. Equities research analysts anticipate that Endava will post 0.62 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DAVA. Handelsbanken Fonder AB lifted its stake in Endava by 62.7% in the third quarter. Handelsbanken Fonder AB now owns 8,300 shares of the company’s stock valued at $476,000 after buying an additional 3,200 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Endava during the 3rd quarter worth $817,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Endava by 6.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 191,500 shares of the company’s stock worth $10,983,000 after buying an additional 12,000 shares during the period. Raymond James & Associates lifted its position in Endava by 33.6% during the 3rd quarter. Raymond James & Associates now owns 122,851 shares of the company’s stock worth $7,046,000 after acquiring an additional 30,909 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Endava during the third quarter worth approximately $697,000. 62.23% of the stock is owned by hedge funds and other institutional investors.

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.