Endava (NYSE:DAVA) Updates FY 2024 Earnings Guidance

Endava (NYSE:DAVA) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.410-1.430 for the period, compared to the consensus earnings per share estimate of 1.460. The company issued revenue guidance of $926.3 million-$928.8 million, compared to the consensus revenue estimate of $937.2 million. Endava also updated its Q4 2024 guidance to 0.280-0.290 EPS.

Analyst Upgrades and Downgrades

DAVA has been the subject of several recent analyst reports. HSBC upgraded 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. JPMorgan Chase & Co. dropped their price objective on Endava from $43.00 to $41.00 and set an overweight rating for the company in a research report on Friday. Needham & Company LLC decreased their target price on Endava from $50.00 to $42.00 and set a buy rating on the stock in a research report on Friday. Guggenheim dropped their target price on shares of Endava from $60.00 to $55.00 and set a buy rating for the company in a report on Friday. Finally, Morgan Stanley restated an equal weight rating and issued a $40.00 price target on shares of Endava in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $46.41.

Endava Trading Down 3.1 %

NYSE:DAVA opened at $30.03 on Monday. The stock’s 50-day moving average is $32.62 and its 200-day moving average is $54.09. Endava has a 1-year low of $28.13 and a 1-year high of $81.06. The stock has a market cap of $1.73 billion, a P/E ratio of 33.37 and a beta of 1.14.

Endava (NYSE:DAVA) last posted its earnings results on Thursday, May 23rd. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $220.59 million. As a group, equities analysts forecast that Endava will post 0.62 EPS for the current year.

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.