Endava (NYSE:DAVA) Updates Q4 2024 Earnings Guidance

Endava (NYSE:DAVA) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.280-0.290 for the period, compared to the consensus estimate of 0.350. The company issued revenue guidance of $243.8 million-$246.3 million, compared to the consensus revenue estimate of $234.6 million. Endava also updated its FY 2024 guidance to 1.410-1.430 EPS.

Endava Stock Down 3.1 %

Shares of NYSE:DAVA opened at $30.03 on Monday. The firm has a fifty day simple moving average of $32.62 and a two-hundred day simple moving average of $54.09. The stock has a market capitalization of $1.73 billion, a P/E ratio of 33.37 and a beta of 1.14. Endava has a 52 week low of $28.13 and a 52 week high of $81.06.

Endava (NYSE:DAVA) last released its quarterly earnings results on Thursday, May 23rd. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). Endava had a return on equity of 7.13% and a net margin of 5.69%. The firm had revenue of $221.14 million for the quarter, compared to analysts’ expectations of $220.59 million. On average, analysts expect that Endava will post 0.62 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on DAVA shares. Citigroup reduced their price target on Endava from $40.00 to $33.00 and set a neutral rating on the stock in a report on Monday, April 22nd. Guggenheim decreased their price objective on shares of Endava from $60.00 to $55.00 and set a buy rating for the company in a report on Friday. Wedbush reduced their price objective on Endava from $65.00 to $50.00 and set an outperform rating on the stock in a report on Thursday. Morgan Stanley reissued an equal weight rating and set a $40.00 price target on shares of Endava in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Endava from $43.00 to $41.00 and set an overweight rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $46.41.

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.