Needham & Company LLC Forecasts Strong Price Appreciation for Endava (NYSE:DAVA) Stock

Endava (NYSE:DAVA) had its price objective hoisted by equities research analysts at Needham & Company LLC from $36.00 to $43.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 37.60% from the company’s current price.

A number of other brokerages have also recently weighed in on DAVA. Guggenheim dropped their price target on Endava from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, November 6th. TD Cowen increased their target price on Endava from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Susquehanna reduced their price target on shares of Endava from $66.00 to $55.00 and set a “positive” rating for the company in a report on Friday, September 20th. Citigroup lowered their price target on shares of Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, October 28th. Finally, Bank of America assumed coverage on shares of Endava in a research report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.46.

Endava Price Performance

Shares of NYSE:DAVA opened at $31.25 on Friday. The company has a market cap of $1.84 billion, a PE ratio of 223.21, a P/E/G ratio of 2.16 and a beta of 1.22. Endava has a fifty-two week low of $23.28 and a fifty-two week high of $81.06. The firm has a 50-day simple moving average of $29.03 and a 200 day simple moving average of $28.86. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.21.

Institutional Investors Weigh In On Endava

A number of institutional investors have recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. raised its stake in shares of Endava by 613.0% in the 3rd quarter. Mawer Investment Management Ltd. now owns 1,198,500 shares of the company’s stock worth $30,610,000 after buying an additional 1,030,403 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its holdings in Endava by 8.7% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 245,772 shares of the company’s stock worth $6,279,000 after acquiring an additional 19,669 shares during the period. XTX Topco Ltd bought a new stake in Endava in the second quarter worth about $941,000. State Street Corp lifted its holdings in Endava by 33.0% in the 3rd quarter. State Street Corp now owns 80,148 shares of the company’s stock valued at $2,047,000 after acquiring an additional 19,884 shares during the last quarter. Finally, Horrell Capital Management Inc. lifted its holdings in Endava by 76.5% in the 3rd quarter. Horrell Capital Management Inc. now owns 150,000 shares of the company’s stock valued at $3,831,000 after acquiring an additional 65,000 shares during the last quarter. 62.23% of the stock is currently 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.