Endava (NYSE:DAVA) Releases Q4 Earnings Guidance

Endava (NYSE:DAVA) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of GBP 0.22-0.23 for the period, compared to the consensus estimate of $0.28. The company issued revenue guidance of GBP 195-197 million, compared to the consensus revenue estimate of $187.61 million.

Endava Stock Performance

NYSE:DAVA traded up $3.89 during trading hours on Thursday, hitting $33.10. The stock had a trading volume of 578,403 shares, compared to its average volume of 583,618. Endava has a one year low of $28.13 and a one year high of $81.06. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 22.62 and a beta of 1.14. The business’s 50 day moving average is $32.86 and its 200-day moving average is $54.45.

Endava (NYSE:DAVA) last announced its earnings results on Thursday, February 29th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). Endava had a return on equity of 11.77% and a net margin of 8.88%. The business had revenue of $227.96 million for the quarter, compared to analyst estimates of $231.07 million. On average, sell-side analysts anticipate that Endava will post 0.62 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on DAVA shares. Needham & Company LLC cut their price target on shares of Endava from $70.00 to $50.00 and set a buy rating for the company in a research note on Friday, March 1st. TD Cowen cut their price target on shares of Endava from $85.00 to $52.00 and set an outperform rating for the company in a research note on Friday, March 1st. Guggenheim assumed coverage on shares of Endava in a research note on Tuesday, March 19th. They set a buy rating and a $60.00 target price for the company. JPMorgan Chase & Co. cut their target price on shares of Endava from $49.00 to $43.00 and set an overweight rating for the company in a research note on Thursday, May 2nd. Finally, HSBC upgraded shares of Endava from a hold rating to a buy rating and set a $45.00 target price for the company in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $51.00.

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.