Brokerages Anticipate Endava PLC – (NYSE:DAVA) Will Announce Quarterly Sales of $95.66 Million

Share on StockTwits

Wall Street brokerages expect that Endava PLC – (NYSE:DAVA) will announce sales of $95.66 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Endava’s earnings, with estimates ranging from $93.75 million to $97.21 million. Endava reported sales of $8.37 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1,042.9%. The business is expected to announce its next earnings results on Thursday, October 10th.

On average, analysts expect that Endava will report full-year sales of $364.25 million for the current financial year, with estimates ranging from $357.89 million to $371.34 million. For the next financial year, analysts forecast that the company will report sales of $437.85 million, with estimates ranging from $427.73 million to $444.53 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Endava.

Endava (NYSE:DAVA) last released its earnings results on Tuesday, May 21st. The company reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Endava had a net margin of 9.59% and a return on equity of 30.34%. The firm had revenue of $73.06 million during the quarter, compared to analysts’ expectations of $71.82 million. During the same period in the prior year, the company earned $0.13 EPS. The business’s quarterly revenue was up 24.7% compared to the same quarter last year.

Several equities research analysts recently issued reports on DAVA shares. KeyCorp started coverage on Endava in a report on Thursday, June 6th. They set a “sector weight” rating and a $38.26 price target for the company. Morgan Stanley boosted their price target on Endava from $33.00 to $37.00 and gave the company an “equal weight” rating in a report on Wednesday, May 22nd. Zacks Investment Research lowered Endava from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, ValuEngine raised Endava from a “hold” rating to a “buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Endava currently has a consensus rating of “Hold” and an average price target of $31.32.

Several hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. raised its position in shares of Endava by 341.8% during the 2nd quarter. Wasatch Advisors Inc. now owns 716,326 shares of the company’s stock worth $28,825,000 after buying an additional 554,197 shares in the last quarter. Grandeur Peak Global Advisors LLC lifted its position in Endava by 119.6% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 625,911 shares of the company’s stock valued at $25,187,000 after purchasing an additional 340,825 shares during the period. Renaissance Technologies LLC acquired a new position in Endava during the 2nd quarter valued at about $4,060,000. AXA lifted its position in Endava by 46.5% during the 2nd quarter. AXA now owns 311,169 shares of the company’s stock valued at $12,521,000 after purchasing an additional 98,792 shares during the period. Finally, Parametric Portfolio Associates LLC acquired a new position in Endava during the 2nd quarter valued at about $3,837,000. Institutional investors and hedge funds own 13.96% of the company’s stock.

Endava stock traded down $0.15 during trading on Thursday, hitting $36.92. 17,700 shares of the company were exchanged, compared to its average volume of 90,488. The firm has a 50 day simple moving average of $38.98. Endava has a 52 week low of $21.13 and a 52 week high of $43.93. The company has a market capitalization of $2.00 billion and a P/E ratio of 52.00.

Endava Company Profile

Endava plc provides technology services for clients in the consumer products, healthcare, logistics, and retail verticals in Europe, Latin America, and the United States. It offers strategy, creative and user experience, insights through data, mobile and Internet of Things, architecture, smart automation, software engineering, test automation and engineering, continuous delivery, cloud, applications management, and smart desk services across the digital evolution, agile transformation, and automation solution areas.

Read More: Holder of Record

Get a free copy of the Zacks research report on Endava (DAVA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Endava (NYSE:DAVA)

Receive News & Ratings for Endava Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Endava and related companies with MarketBeat.com's FREE daily email newsletter.