Endava (NYSE:DAVA) Issues FY 2024 Earnings Guidance

Endava (NYSE:DAVA) updated its FY 2024 earnings guidance on Friday. 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 Down 3.1 %

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

Endava (NYSE:DAVA) last announced its quarterly earnings results 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 5.69% and a return on equity of 7.13%. The company had revenue of $221.14 million for the quarter, compared to analyst estimates of $220.59 million. On average, equities research analysts predict that Endava will post 0.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DAVA shares. Morgan Stanley reaffirmed an equal weight rating and issued a $40.00 price target on shares of Endava in a research report on Monday, April 22nd. HSBC raised 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. Citigroup reduced their price objective on Endava from $40.00 to $33.00 and set a neutral rating for the company in a research report on Monday, April 22nd. TD Cowen dropped their target price on shares of Endava from $46.00 to $42.00 and set a buy rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of Endava from $43.00 to $41.00 and set an overweight rating for the company in a report on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $46.41.

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.