Needham & Company LLC Has Lowered Expectations for Endava (NYSE:DAVA) Stock Price

Endava (NYSE:DAVA) had its price target lowered by investment analysts at Needham & Company LLC from $9.00 to $7.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price objective points to a potential upside of 41.56% from the stock’s current price.

A number of other research firms also recently commented on DAVA. Zacks Research upgraded Endava from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. JPMorgan Chase & Co. decreased their target price on Endava from $13.00 to $10.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Morgan Stanley lowered their price target on Endava from $11.00 to $8.00 and set an “equal weight” rating for the company in a report on Thursday, November 13th. Guggenheim reduced their price objective on Endava from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Friday, February 13th. Finally, William Blair downgraded shares of Endava from an “outperform” rating to a “market perform” rating in a report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Endava presently has an average rating of “Hold” and an average target price of $15.71.

Endava Trading Down 1.7%

DAVA opened at $4.95 on Thursday. The stock has a market capitalization of $277.96 million, a PE ratio of -44.95 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.18 and a quick ratio of 2.18. Endava has a 12-month low of $4.84 and a 12-month high of $29.03. The firm’s fifty day moving average price is $6.26 and its 200 day moving average price is $8.35.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake 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 buying an additional 1,680 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Endava in the 3rd quarter worth about $28,000. Quadrant Capital Group LLC lifted its position in Endava by 901.8% in the 4th quarter. Quadrant Capital Group LLC now owns 6,101 shares of the company’s stock valued at $39,000 after purchasing an additional 5,492 shares during the last quarter. Perennial Advisors LLC bought a new stake in Endava in the 4th quarter valued at about $63,000. Finally, Vident Advisory LLC acquired a new position in Endava during the 2nd quarter valued at about $160,000. 62.23% of the stock is currently owned by institutional investors.

Key Stories Impacting Endava

Here are the key news stories impacting Endava this week:

• Positive Sentiment: Q2 results showed upside: Endava reported EPS of $0.22 (beat consensus) and revenue of $247.6M, with press commentary highlighting the company’s AI pivot as a growth driver. This delivered an upbeat market reaction after the print. Endava shares surge as Q2 earnings beat amid AI pivot
• Positive Sentiment: Management issued materially stronger guidance: Q3 EPS and FY2026 EPS and revenue ranges were revised well above Street estimates, signaling accelerating revenue and a clear push into AI-related services — a catalyst for longer‑term re-rating if execution continues. Press release: Q2 FY2026 results
• Neutral Sentiment: Analyst update from Needham: Needham trimmed its price target from $9 to $7 but kept a Buy rating — a mixed signal (lower target but continued conviction). This tempers enthusiasm but preserves upside in some broker models. Benzinga
• Negative Sentiment: JPMorgan cut its price target (from $10 to $9) and set a Neutral rating, which reduces near‑term institutional enthusiasm and likely contributed to downward pressure on the stock. Tickerreport
• Negative Sentiment: Profitability and technicals remain concerns: Endava’s net margin (≈1.34%) and ROE are modest, and the shares are near their 1‑year low with the 50‑ and 200‑day moving averages well above the current price — factors that can limit multiple expansion despite revenue/guidance beats. MarketBeat DAVA profile

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.