Morgan Stanley Lowers Endava (DAVA) Price Target to $30.00

Endava (NYSE:DAVA) had its price target lowered by equities research analysts at Morgan Stanley from $31.00 to $30.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 21.46% from the company’s previous close.

DAVA has been the subject of a number of other research reports. Zacks Investment Research lowered Endava from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. Citigroup cut their price target on Endava from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, October 12th. William Blair started coverage on Endava in a research note on Tuesday, August 21st. They issued an “outperform” rating for the company. Deutsche Bank began coverage on Endava in a research note on Wednesday, August 22nd. They issued a “hold” rating and a $29.00 price target for the company. Finally, Credit Suisse Group began coverage on Endava in a research report on Tuesday, August 21st. They set a “neutral” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.00.

Shares of DAVA stock opened at $24.70 on Friday. Endava has a 52-week low of $21.13 and a 52-week high of $31.50.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, November 29th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.08. The business had revenue of $66.40 million during the quarter, compared to analysts’ expectations of $62.26 million. The company’s revenue was up 39.8% on a year-over-year basis. Sell-side analysts predict that Endava will post 0.66 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of DAVA. FMR LLC purchased a new position in shares of Endava during the third quarter valued at about $23,755,000. Capital World Investors purchased a new position in shares of Endava during the third quarter valued at about $20,555,000. BlackRock Inc. purchased a new position in shares of Endava during the third quarter valued at about $14,213,000. Bamco Inc. NY purchased a new position in shares of Endava during the third quarter valued at about $8,939,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Endava during the third quarter valued at about $5,996,000. Hedge funds and other institutional investors own 5.30% of the company’s stock.

Endava Company Profile

Endava plc provides IT service to finance, insurance and healthcare, retail and consumer goods, telecommunications, media, and technology industries in the United Kingdom. It offers architecture solutions; AI and Intelligent Automation, bots and natural language interfaces, and Robotic Process Automation; software engineering; testing solutions; cloud services; and application management services.

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Analyst Recommendations for Endava (NYSE:DAVA)

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