Endava (NYSE:DAVA) Issues Q4 Earnings Guidance

Endava (NYSE:DAVA – Get Rating) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of GBP0.48-0.49 for the period, compared to the consensus EPS estimate of $0.46. The company issued revenue guidance of GBP177.0-179.0 million, compared to the consensus revenue estimate of $170.98 million.Endava also updated its FY 2022 guidance to $2.14-$2.15 EPS.

Shares of DAVA stock traded up $6.53 on Thursday, hitting $100.33. The stock had a trading volume of 5,890 shares, compared to its average volume of 291,965. The business has a 50 day moving average price of $117.53 and a 200 day moving average price of $134.63. The company has a market cap of $5.59 billion, a PE ratio of 59.75 and a beta of 1.17. Endava has a one year low of $88.12 and a one year high of $172.41.

Endava (NYSE:DAVA – Get Rating) last released its quarterly earnings data on Wednesday, February 16th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.03). Endava had a net margin of 11.78% and a return on equity of 20.67%. The firm had revenue of $157.67 million during the quarter, compared to the consensus estimate of $151.61 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 49.8% compared to the same quarter last year. On average, research analysts predict that Endava will post 1.57 earnings per share for the current fiscal year.

DAVA has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft cut their target price on Endava from $162.00 to $154.00 in a research note on Thursday, February 17th. Citigroup cut their target price on Endava from $195.00 to $180.00 and set a buy rating on the stock in a research note on Thursday, February 17th. Zacks Investment Research upgraded Endava from a strong sell rating to a hold rating in a research note on Wednesday, March 9th. Finally, Morgan Stanley lifted their target price on Endava from $185.00 to $190.00 and gave the company an overweight rating in a research note on Thursday, February 17th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Buy and an average price target of $185.71.

Large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of Endava by 2.5% in the 3rd quarter. Royal Bank of Canada now owns 5,678 shares of the company’s stock valued at $772,000 after buying an additional 138 shares during the period. LPL Financial LLC purchased a new position in Endava during the third quarter valued at approximately $247,000. Citigroup Inc. boosted its position in Endava by 36.0% in the 4th quarter. Citigroup Inc. now owns 699 shares of the company’s stock worth $117,000 after purchasing an additional 185 shares in the last quarter. Credit Suisse AG grew its stake in shares of Endava by 10.1% during the 4th quarter. Credit Suisse AG now owns 14,516 shares of the company’s stock worth $2,438,000 after purchasing an additional 1,327 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Endava by 113.7% during the 4th quarter. Sei Investments Co. now owns 56,882 shares of the company’s stock valued at $9,552,000 after purchasing an additional 30,261 shares in the last quarter. Institutional investors own 49.74% of the company’s stock.

Endava Company Profile (Get Rating)

Endava plc provides technology services for clients in the consumer products, healthcare, mobility, and retail verticals in Europe, Latin America, North America, and internationally. The company 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.

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