Endava PLC – (NYSE:DAVA) Receives Consensus Recommendation of “Hold” from Analysts

Endava PLC – (NYSE:DAVA) has been given an average recommendation of “Hold” by the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $51.86.

Several brokerages have recently issued reports on DAVA. Wedbush began coverage on Endava in a report on Tuesday, May 26th. They set an “outperform” rating and a $60.00 price target for the company. Morgan Stanley began coverage on Endava in a report on Monday, June 15th. They set an “equal weight” rating and a $54.00 price target for the company. Zacks Investment Research lowered Endava from a “buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC lifted their price target on Endava from $40.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, May 21st. Finally, Citigroup reduced their price target on Endava from $56.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th.

NYSE:DAVA traded up $1.90 on Friday, hitting $49.30. 7,293 shares of the company’s stock traded hands, compared to its average volume of 160,796. The company has a current ratio of 2.09, a quick ratio of 2.08 and a debt-to-equity ratio of 0.19. Endava has a 1 year low of $27.21 and a 1 year high of $56.76. The firm has a 50-day moving average price of $47.72 and a 200-day moving average price of $45.38. The company has a market cap of $2.56 billion, a PE ratio of 95.83, a price-to-earnings-growth ratio of 2.65 and a beta of 1.22.

Endava (NYSE:DAVA) last released its earnings results on Thursday, May 21st. The company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Endava had a return on equity of 13.83% and a net margin of 6.85%. The company had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $87.64 million. During the same quarter in the previous year, the business posted $0.19 EPS. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. On average, research analysts forecast that Endava will post 0.91 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada acquired a new stake in Endava in the 1st quarter worth approximately $28,000. Grandeur Peak Global Advisors LLC lifted its holdings in Endava by 52.8% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 1,156,775 shares of the company’s stock worth $40,672,000 after purchasing an additional 399,764 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in Endava in the 1st quarter worth approximately $305,000. Caxton Associates LP bought a new position in Endava in the 1st quarter worth approximately $218,000. Finally, Engineers Gate Manager LP bought a new position in Endava in the 1st quarter worth approximately $259,000. Hedge funds and other institutional investors own 33.49% of the company’s stock.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, logistics, and retail verticals in Europe, Latin America, and the United States. It offers strategy, creative and user experience, insights through data, mobile and Internet of Things, architecture, smart automation, software engineering, test automation and engineering, continuous delivery, cloud, applications management, and smart desk services across the digital evolution, agile transformation, and automation solution areas.

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Analyst Recommendations for Endava (NYSE:DAVA)

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