Endava (NYSE:DAVA) Releases Q1 Earnings Guidance

Endava (NYSE:DAVA) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of GBP0.34-0.35 for the period, compared to the consensus earnings per share estimate of $0.50. The company issued revenue guidance of GBP186.0-187.0 million, compared to the consensus revenue estimate of $198.25 million. Endava also updated its FY24 guidance to GBP1.52-1.62 EPS.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Endava from $78.00 to $53.00 in a report on Wednesday, May 24th. HSBC initiated coverage on Endava in a research report on Monday, July 17th. They set a buy rating and a $74.00 price objective on the stock. Morgan Stanley boosted their target price on Endava from $70.00 to $72.00 and gave the company an overweight rating in a research report on Thursday, September 14th. Finally, Susquehanna lowered their price target on Endava from $104.00 to $100.00 in a research report on Monday, June 12th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $86.00.

Endava Price Performance

Shares of DAVA opened at $51.07 on Tuesday. Endava has a 1-year low of $44.62 and a 1-year high of $95.00. The company has a 50-day moving average of $51.18 and a 200 day moving average of $55.18. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 24.79 and a beta of 1.16.

Institutional Investors Weigh In On Endava

A number of institutional investors and hedge funds have recently bought and sold shares of DAVA. Price T Rowe Associates Inc. MD raised its position in Endava by 14.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,254,362 shares of the company’s stock valued at $631,459,000 after purchasing an additional 1,037,028 shares in the last quarter. Invesco Ltd. acquired a new position in Endava during the 1st quarter valued at about $64,236,000. Capital World Investors increased its position in Endava by 115.3% during the 1st quarter. Capital World Investors now owns 857,000 shares of the company’s stock valued at $114,007,000 after buying an additional 459,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Endava by 562.7% during the 1st quarter. JPMorgan Chase & Co. now owns 293,835 shares of the company’s stock valued at $19,740,000 after buying an additional 249,499 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Endava by 198.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 221,699 shares of the company’s stock valued at $29,492,000 after purchasing an additional 147,525 shares in the last quarter. 56.10% of the stock is owned by institutional investors.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in Europe, Latin America, North America, and internationally. It offers technology and digital advisory services for payments and financial services, and TMT sectors; IT strategies; business analysis services; program management services; digital product strategy services; and architecture, extended reality, machine learning and artificial intelligence, product design, and user experience and visual design services.