Endava (NYSE:DAVA) Releases Q4 Earnings Guidance

Endava (NYSE:DAVA) updated its fourth quarter earnings guidance on Thursday. 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.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DAVA. Wedbush reduced their target price on shares of Endava from $65.00 to $50.00 and set an outperform rating for the company in a report on Thursday. Guggenheim began coverage on shares of Endava in a research note on Tuesday, March 19th. They issued a buy rating and a $60.00 price objective for the company. TD Cowen reduced their price objective on shares of Endava from $46.00 to $42.00 and set a buy rating for the company in a research note on Friday. JPMorgan Chase & Co. reduced their price objective 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, Needham & Company LLC reduced their price objective on shares of Endava from $50.00 to $42.00 and set a buy rating for the company in a research note on Friday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $47.65.

Endava Trading Down 7.1 %

DAVA traded down $2.21 during trading on Friday, hitting $28.77. 103,046 shares of the company traded hands, compared to its average volume of 590,010. The company has a market cap of $1.66 billion, a PE ratio of 20.03 and a beta of 1.14. The stock’s 50-day simple moving average is $32.86 and its two-hundred day simple moving average is $54.45. Endava has a 1 year low of $28.13 and a 1 year high of $81.06.

Endava (NYSE:DAVA) last released its quarterly earnings data 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 net margin of 8.88% and a return on equity of 11.77%. The business had revenue of $221.14 million for the quarter, compared to the consensus estimate of $220.59 million. Equities analysts expect 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.