Endava (DAVA) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Endava (NYSE:DAVA) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. They currently have $27.00 price objective on the stock.
According to Zacks, “Endava Plc provides information technology services. It offers software engineering, cloud transformation, test automation, technology consulting and other related services. The company serves finance, insurance and healthcare, retail and consumer goods, media and technology and communication industry. Endava Plc is based in London, United Kingdom. “
A number of other analysts have also issued reports on the company. Morgan Stanley initiated coverage on Endava in a research report on Tuesday, August 21st. They set a weight rating and a $29.00 target price on the stock. Citigroup dropped their target price on Endava from $30.00 to $27.00 and set a neutral rating on the stock in a research report on Friday, October 12th. Credit Suisse Group initiated coverage on Endava in a research report on Tuesday, August 21st. They set a neutral rating and a $27.00 target price on the stock. Deutsche Bank initiated coverage on Endava in a research report on Wednesday, August 22nd. They set a hold rating and a $29.00 target price on the stock. Finally, Cowen initiated coverage on Endava in a research report on Tuesday, August 21st. They set an outperform rating and a $27.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Endava presently has an average rating of Hold and an average price target of $27.83.
Endava (NYSE:DAVA) last announced its 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 for the quarter, compared to analysts’ expectations of $62.26 million. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. As a group, analysts predict that Endava will post 0.83 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the stock. FMR LLC bought a new stake in Endava in the third quarter valued at about $23,755,000. Capital World Investors bought a new stake in Endava in the third quarter valued at about $20,555,000. BlackRock Inc. bought a new stake in Endava in the third quarter valued at about $14,213,000. Bamco Inc. NY bought a new stake in Endava in the third quarter valued at about $8,939,000. Finally, Wells Fargo & Company MN bought a new stake in Endava in the third quarter valued at about $5,996,000. 12.54% of the stock is owned by hedge funds and other institutional investors.
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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