Endava (NYSE:DAVA) Updates Q4 Earnings Guidance

Endava (NYSE:DAVA) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of GBP 0.22-0.23 for the period, compared to the consensus earnings per share 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 Trading Down 3.1 %

Shares of Endava stock opened at $30.03 on Friday. The company’s 50-day moving average price is $32.62 and its two-hundred day moving average price is $54.11. Endava has a 52 week low of $28.13 and a 52 week high of $81.06. The stock has a market cap of $1.73 billion, a PE ratio of 33.37 and a beta of 1.14.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, May 23rd. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.06 by ($0.10). Endava had a return on equity of 7.13% and a net margin of 5.69%. The business had revenue of $221.14 million during the quarter, compared to the consensus estimate of $220.59 million. On average, equities analysts predict that Endava will post 0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DAVA shares. JPMorgan Chase & Co. dropped their price target on shares of Endava from $43.00 to $41.00 and set an overweight rating on the stock in a research report on Friday. HSBC upgraded Endava from a hold rating to a buy rating and set a $45.00 price objective on the stock in a report on Wednesday, May 1st. Needham & Company LLC cut their price objective on Endava from $50.00 to $42.00 and set a buy rating on the stock in a report on Friday. Morgan Stanley restated an equal weight rating and set a $40.00 price objective on shares of Endava in a report on Monday, April 22nd. Finally, Guggenheim cut their price objective on Endava from $60.00 to $55.00 and set a buy rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $46.41.

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.