Citi downgrades Endava to Neutral, a day after Q2 results [Seeking Alpha]
Endava plc American Depositary Shares (each representing one Class A Ordinary Share) (DAVA)
Last endava plc american depositary shares (each representing one class a ordinary share) earnings: 2/13 07:14 am
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Source: Seeking Alpha
"CITI's below-consensus and below-outlook estimates for Endava proved too high as Endava announced a sharp ~9% cut in revenue expectations," the analysts at Citi said in a note. DAVA had reported Q2 revenue of £183.6M, down 10.5% from last year, and also saw a fall in its adjusted earnings per share, when compared to the same period in the prior year. Citi also noted that, while earlier DAVA would miss expectations, it was primarily driven by situations that one cannot plan, however, it now believes such is not the case this time. "Now it seems clear that Endava's lack of diversification is an issue – in particular, the focus on an end-market (FinTech) that is at a crossroads," Citi added. According to the note, DAVA's approach to providing outlook, remains positively biased. The American depositary shares of the company had closed 41.8% lower on Thursday, as the outlook rattled the investors. DAVA had said it expects revenue to be in the range of £174 million - £176 mill
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DAVA
News
- Endava plc (NYSE: DAVA) had its price target lowered by analysts at JPMorgan Chase & Co. from $49.00 to $43.00. They now have an "overweight" rating on the stock.MarketBeat
- Endava plc (NYSE: DAVA) was upgraded by analysts at HSBC Holdings plc from a "hold" rating to a "buy" rating. They now have a $45.00 price target on the stock.MarketBeat
- Endava Creates Agentic AI Industry Accelerator For Highly Regulated Industries [Yahoo! Finance]Yahoo! Finance
- Endava Creates Agentic AI Industry Accelerator For Highly Regulated IndustriesBusiness Wire
- Endava plc (NYSE: DAVA) had its "equal weight" rating re-affirmed by analysts at Morgan Stanley. They now have a $40.00 price target on the stock.MarketBeat
DAVA
Earnings
- 2/29/24 - Beat
DAVA
Sec Filings
- 4/24/24 - Form 144
- 4/10/24 - Form SC
- 4/9/24 - Form SC
- DAVA's page on the SEC website