Morgan Stanley Cuts Endava (NYSE:DAVA) Price Target to $8.00

Endava (NYSE:DAVA) had its target price cut by Morgan Stanley from $11.00 to $8.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also recently commented on the stock. Guggenheim dropped their price target on shares of Endava from $18.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Wall Street Zen downgraded shares of Endava from a “buy” rating to a “hold” rating in a research note on Saturday, August 16th. Needham & Company LLC dropped their target price on Endava from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday. Cowen reaffirmed a “hold” rating on shares of Endava in a research note on Friday, September 5th. Finally, Zacks Research raised Endava from a “strong sell” rating to a “hold” rating in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Endava has a consensus rating of “Hold” and a consensus price target of $18.00.

Endava Stock Down 5.3%

Shares of DAVA opened at $6.54 on Thursday. The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.31. The business has a fifty day moving average of $8.96 and a 200 day moving average of $12.78. The company has a market cap of $367.78 million, a PE ratio of 32.72 and a beta of 1.18. Endava has a 52-week low of $6.52 and a 52-week high of $34.94.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new stake in shares of Endava in the 1st quarter valued at about $25,000. GAMMA Investing LLC increased its holdings in Endava by 81.0% during the second quarter. GAMMA Investing LLC now owns 1,683 shares of the company’s stock valued at $26,000 after buying an additional 753 shares during the period. EverSource Wealth Advisors LLC raised its stake in Endava by 733.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,909 shares of the company’s stock worth $29,000 after buying an additional 1,680 shares in the last quarter. State of Wyoming lifted its holdings in Endava by 112.7% during the first quarter. State of Wyoming now owns 2,367 shares of the company’s stock worth $46,000 after buying an additional 1,254 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Endava by 23.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 3,620 shares of the company’s stock valued at $72,000 after acquiring an additional 689 shares in the last quarter. 62.23% of the stock is currently owned by institutional investors.

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.