Endava (NYSE:DAVA - Get Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.210-0.240 for the period, compared to the consensus estimate of 0.510. The company issued revenue guidance of $216.0 million-$218.5 million, compared to the consensus revenue estimate of $254.9 million. Endava also updated its FY 2024 guidance to 1.350-1.520 EPS.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. Morgan Stanley lowered shares of Endava from an overweight rating to an equal weight rating and upped their price objective for the company from $68.00 to $80.00 in a research note on Wednesday, January 24th. HSBC lowered shares of Endava from a buy rating to a hold rating and increased their price target for the stock from $68.00 to $80.00 in a research note on Monday, January 8th. Needham & Company LLC increased their price target on shares of Endava from $65.00 to $70.00 and gave the stock a buy rating in a research note on Thursday, November 16th. JPMorgan Chase & Co. increased their price target on shares of Endava from $77.00 to $79.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Finally, Citigroup increased their price target on shares of Endava from $70.00 to $90.00 and gave the stock a buy rating in a research note on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $75.63.
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Endava Trading Down 0.9 %
NYSE:DAVA opened at $63.70 on Thursday. Endava has a 1 year low of $44.62 and a 1 year high of $82.25. The firm's fifty day simple moving average is $72.90 and its 200 day simple moving average is $62.49. The firm has a market capitalization of $3.68 billion, a PE ratio of 41.10 and a beta of 1.26.
Institutional Trading of Endava
A number of hedge funds have recently bought and sold shares of DAVA. Raymond James Financial Services Advisors Inc. boosted its holdings in Endava by 113.1% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 3,428 shares of the company's stock valued at $456,000 after purchasing an additional 1,819 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Endava by 61.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,061 shares of the company's stock worth $274,000 after acquiring an additional 786 shares during the period. Cetera Advisor Networks LLC bought a new position in shares of Endava during the 1st quarter worth about $363,000. Citigroup Inc. lifted its holdings in shares of Endava by 1,461.2% during the 1st quarter. Citigroup Inc. now owns 10,913 shares of the company's stock worth $1,451,000 after acquiring an additional 10,214 shares during the period. Finally, Synovus Financial Corp lifted its holdings in shares of Endava by 32.4% during the 1st quarter. Synovus Financial Corp now owns 9,044 shares of the company's stock worth $1,204,000 after acquiring an additional 2,211 shares during the period. 56.10% of the stock is owned by institutional investors.
About Endava
(
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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.
Further Reading
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