Morgan Stanley Forecasts Strong Price Appreciation for Endava (NYSE:DAVA) Stock

Endava (NYSE:DAVA) had its price target lifted by Morgan Stanley from $33.00 to $35.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 7.76% from the stock’s current price.

Several other equities analysts have also commented on DAVA. Needham & Company LLC increased their price objective on Endava from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, January 10th. Bank of America began coverage on shares of Endava in a report on Friday, November 22nd. They issued a “neutral” rating and a $29.00 price objective for the company. Guggenheim decreased their target price on shares of 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 upped their price target on shares of Endava from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Citigroup decreased their price objective on Endava from $30.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Endava currently has a consensus rating of “Moderate Buy” and an average price target of $40.01.

Endava Trading Down 1.3 %

Endava stock opened at $32.48 on Friday. The stock has a market cap of $1.92 billion, a P/E ratio of 232.01, a PEG ratio of 2.32 and a beta of 1.22. Endava has a fifty-two week low of $23.28 and a fifty-two week high of $73.27. The firm’s fifty day moving average price is $30.61 and its 200-day moving average price is $29.12. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.90 and a current ratio of 1.90.

Hedge Funds Weigh In On Endava

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in Endava by 28.5% in the 4th quarter. Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $46,000 after purchasing an additional 331 shares in the last quarter. Alliance Wealth Advisors LLC UT bought a new position in Endava in the fourth quarter worth about $222,000. Precision Wealth Strategies LLC lifted its holdings in Endava by 4.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 8,954 shares of the company’s stock worth $277,000 after buying an additional 383 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Endava by 13.9% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 204,300 shares of the company’s stock valued at $6,313,000 after acquiring an additional 25,000 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc grew its holdings in shares of Endava by 35.3% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 332,642 shares of the company’s stock worth $10,282,000 after acquiring an additional 86,870 shares during the period. Institutional investors 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.