$101.08 Million in Sales Expected for Endava PLC – (NYSE:DAVA) This Quarter

Brokerages forecast that Endava PLC – (NYSE:DAVA) will post sales of $101.08 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Endava’s earnings, with the lowest sales estimate coming in at $99.67 million and the highest estimate coming in at $102.00 million. Endava reported sales of $86.53 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 16.8%. The firm is scheduled to report its next earnings results on Thursday, December 5th.

According to Zacks, analysts expect that Endava will report full year sales of $429.31 million for the current financial year, with estimates ranging from $424.17 million to $434.44 million. For the next fiscal year, analysts forecast that the company will report sales of $525.63 million, with estimates ranging from $513.24 million to $537.71 million. Zacks’ sales averages are an average based on a survey of analysts that follow Endava.

Several equities analysts have issued reports on DAVA shares. Zacks Investment Research lowered Endava from a “hold” rating to a “sell” rating in a research note on Tuesday, October 1st. Needham & Company LLC started coverage on Endava in a research note on Friday. They issued a “buy” rating and a $46.00 target price on the stock. ValuEngine lowered Endava from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Deutsche Bank lifted their target price on Endava from $36.00 to $43.00 and gave the company a “hold” rating in a research note on Thursday, September 26th. Finally, Citigroup cut their target price on Endava from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.89.

Hedge funds and other institutional investors have recently modified their holdings of the business. Panagora Asset Management Inc. acquired a new stake in Endava in the second quarter worth about $46,000. Ellington Management Group LLC acquired a new stake in Endava in the second quarter worth about $209,000. Marshall Wace North America L.P. acquired a new stake in Endava in the first quarter worth about $162,000. Ladenburg Thalmann Financial Services Inc. acquired a new stake in Endava in the second quarter worth about $270,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Endava in the second quarter worth about $287,000. 27.28% of the stock is owned by institutional investors and hedge funds.

DAVA traded up $1.82 on Wednesday, hitting $41.42. The company had a trading volume of 347,100 shares, compared to its average volume of 88,434. The stock has a fifty day moving average price of $38.28 and a 200-day moving average price of $36.35. Endava has a 12-month low of $21.42 and a 12-month high of $43.93. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 41.84, a P/E/G ratio of 2.57 and a beta of 0.74.

About Endava

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.

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