Endava (NYSE:DAVA) Issues FY 2024 Earnings Guidance

Endava (NYSE:DAVA) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.410-1.430 for the period, compared to the consensus EPS 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.

Endava Trading Up 6.0 %

Shares of NYSE:DAVA opened at $30.96 on Friday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 21.35 and a beta of 1.14. Endava has a 1 year low of $28.13 and a 1 year high of $81.06. The business has a fifty day simple moving average of $32.86 and a 200 day simple moving average of $54.45.

Endava (NYSE:DAVA) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). Endava had a net margin of 8.88% and a return on equity of 11.77%. The business had revenue of $227.96 million during the quarter, compared to analyst estimates of $231.07 million. On average, sell-side analysts forecast that Endava will post 0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reaffirmed an equal weight rating and issued a $40.00 target price on shares of Endava in a report on Monday, April 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Endava from $49.00 to $43.00 and set an overweight rating for the company in a report on Thursday, May 2nd. Guggenheim began coverage on shares of Endava in a research note on Tuesday, March 19th. They issued a buy rating and a $60.00 target price for the company. HSBC upgraded Endava from a hold rating to a buy rating and set a $45.00 price target on the stock in a research report on Wednesday, May 1st. Finally, Wedbush cut their price objective on Endava from $65.00 to $50.00 and set an outperform rating for the company in a research report on Thursday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $50.90.

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.