Endava (DAVA) Releases Earnings Results

Endava (NYSE:DAVA) issued its earnings results on Thursday. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.08, MarketWatch Earnings reports. The company had revenue of $66.40 million for the quarter, compared to analyst estimates of $62.26 million. Endava’s quarterly revenue was up 39.8% on a year-over-year basis.

DAVA stock opened at $24.70 on Friday. Endava has a 1 year low of $21.13 and a 1 year high of $31.50. The firm has a market capitalization of $1.32 billion and a P/E ratio of 34.79.

Hedge funds have recently added to or reduced their stakes in the stock. Pendal Group Ltd acquired a new stake in shares of Endava in the 3rd quarter valued at $333,000. BlackRock Inc. acquired a new stake in shares of Endava in the 3rd quarter valued at $14,213,000. FMR LLC acquired a new stake in shares of Endava in the 3rd quarter valued at $23,755,000. Wells Fargo & Company MN acquired a new stake in shares of Endava in the 3rd quarter valued at $5,996,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Endava in the 3rd quarter valued at $917,000. 5.30% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have issued reports on the stock. Cowen assumed coverage on shares of Endava in a research note on Tuesday, August 21st. They set an “outperform” rating and a $27.00 target price for the company. Morgan Stanley started coverage on shares of Endava in a research note on Tuesday, August 21st. They issued a “weight” rating and a $29.00 price objective for the company. Deutsche Bank started coverage on shares of Endava in a research note on Wednesday, August 22nd. They issued a “hold” rating and a $29.00 price objective for the company. Zacks Investment Research lowered shares of Endava from a “hold” rating to a “sell” rating in a research note on Thursday, November 15th. Finally, Citigroup started coverage on shares of Endava in a research note on Tuesday, August 21st. They issued a “neutral” rating and a $30.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Endava currently has an average rating of “Hold” and an average price target of $28.00.

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About Endava

Endava plc provides IT service to finance, insurance and healthcare, retail and consumer goods, telecommunications, media, and technology industries in the United Kingdom. It offers architecture solutions; AI and Intelligent Automation, bots and natural language interfaces, and Robotic Process Automation; software engineering; testing solutions; cloud services; and application management services.

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