Endava (NYSE:DAVA) Issues FY24 Earnings Guidance

Endava (NYSE:DAVA) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of GBP 1.59-1.66 for the period, compared to the consensus estimate of $1.59. The company issued revenue guidance of GBP 791-805 million, compared to the consensus revenue estimate of $788.82 million. Endava also updated its FY 2024 guidance to $1.92-$2.01 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC decreased their target price on shares of Endava from $68.00 to $65.00 and set a buy rating for the company in a research note on Wednesday, September 20th. TD Cowen reduced their price objective on Endava from $78.00 to $70.00 and set an outperform rating for the company in a research report on Wednesday, September 20th. Susquehanna lowered their price objective on Endava from $100.00 to $83.00 and set a positive rating for the company in a research note on Monday, October 2nd. Finally, Morgan Stanley cut their target price on Endava from $72.00 to $68.00 and set an overweight rating on the stock in a research note on Wednesday, September 20th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of Buy and an average price target of $78.67.

Endava Trading Up 6.6 %

DAVA stock opened at $56.93 on Wednesday. The stock’s 50 day simple moving average is $54.71 and its 200 day simple moving average is $52.37. Endava has a 12-month low of $44.62 and a 12-month high of $95.00. The stock has a market capitalization of $3.29 billion, a PE ratio of 28.90 and a beta of 1.06.

Endava (NYSE:DAVA) last posted its quarterly earnings results on Tuesday, September 19th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.12. Endava had a return on equity of 18.07% and a net margin of 11.86%. The firm had revenue of $189.80 million during the quarter, compared to analysts’ expectations of $188.53 million. During the same quarter in the previous year, the business earned $0.59 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that Endava will post 1.22 earnings per share for the current year.

Institutional Trading of Endava

A number of institutional investors have recently made changes to their positions in DAVA. Price T Rowe Associates Inc. MD raised its holdings in shares of Endava by 4.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,588,111 shares of the company’s stock valued at $576,950,000 after purchasing an additional 333,749 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in Endava by 14.2% in the fourth quarter. 1832 Asset Management L.P. now owns 974,500 shares of the company’s stock worth $74,549,000 after purchasing an additional 121,100 shares during the last quarter. Capital World Investors grew its position in Endava by 115.3% in the 1st quarter. Capital World Investors now owns 857,000 shares of the company’s stock worth $114,007,000 after purchasing an additional 459,000 shares during the period. Ensign Peak Advisors Inc raised its stake in Endava by 7.3% during the 1st quarter. Ensign Peak Advisors Inc now owns 623,112 shares of the company’s stock valued at $41,861,000 after buying an additional 42,416 shares during the last quarter. Finally, Invesco Ltd. bought a new position in shares of Endava during the 1st quarter valued at $64,236,000. Hedge funds and other institutional investors own 56.10% of the company’s stock.

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.