Guggenheim Has Lowered Expectations for Endava (NYSE:DAVA) Stock Price

Endava (NYSE:DAVA) had its price target trimmed by Guggenheim from $40.00 to $28.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley upped their target price on shares of Endava from $33.00 to $35.00 and gave the company an “equal weight” rating in a research note on Friday, January 31st. Susquehanna decreased their target price on shares of Endava from $55.00 to $50.00 and set a “positive” rating for the company in a research report on Friday, February 21st. Finally, Needham & Company LLC decreased their target price on shares of Endava from $43.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.41.

Endava Trading Down 5.6%

Shares of NYSE DAVA opened at $14.77 on Tuesday. Endava has a fifty-two week low of $14.32 and a fifty-two week high of $34.94. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.90 and a quick ratio of 1.90. The firm has a market capitalization of $871.89 million, a P/E ratio of 134.27, a P/E/G ratio of 2.26 and a beta of 1.25. The company’s 50 day simple moving average is $19.12 and its 200 day simple moving average is $25.78.

Endava (NYSE:DAVA) last issued its earnings results on Wednesday, May 14th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.06). Endava had a net margin of 0.74% and a return on equity of 0.89%. On average, analysts predict that Endava will post 0.57 EPS for the current year.

Institutional Trading of Endava

A number of hedge funds have recently modified their holdings of DAVA. Assetmark Inc. increased its position in Endava by 93.1% during the fourth quarter. Assetmark Inc. now owns 985 shares of the company’s stock worth $30,000 after acquiring an additional 475 shares during the period. Quantbot Technologies LP bought a new position in Endava in the 1st quarter valued at about $25,000. Quadrant Capital Group LLC increased its holdings in Endava by 114.2% in the 4th quarter. Quadrant Capital Group LLC now owns 1,474 shares of the company’s stock valued at $46,000 after buying an additional 786 shares during the period. Blue Trust Inc. increased its holdings in Endava by 28.5% in the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock valued at $46,000 after buying an additional 331 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Endava by 86.4% in the 4th quarter. GAMMA Investing LLC now owns 1,607 shares of the company’s stock valued at $50,000 after buying an additional 745 shares during the period. Institutional investors and hedge funds own 62.23% of the company’s stock.

About Endava

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.