DAVA Stock Recent News

The stock market is on fire, with growth stocks hitting new highs almost every day. Sectors such as artificial intelligence and semiconductors are enjoying tremendous momentum right now.

DAVA, KOS and LVRO have been added to the Zacks Rank #5 (Strong Sell) List on March 8, 2023.

The stock market is soaring right now. It might seem too late to get in, given how far momentum stocks have already run up this year.

Endava plc (DAVA) Q2 2024 Earnings Call Transcript

LONDON--(BUSINESS WIRE)--Endava (NYSE: DAVA), a leading next-generation technology services provider, today announced it will release results for the second quarter ended December 31, 2023, on Thursday February 29, 2024 before the opening of regular U.S. market hours. Following the release, John Cotterell, Endava's CEO and Mark Thurston, Endava's CFO, will discuss the results in a conference call beginning at 8:00 am ET. Conference call access information is: Participant Toll Free Dial-In Numbe.

I reiterate my buy rating for DAVA as signs of macroeconomic recovery suggest positive growth prospects in FY24. DAVA's financials for 1H24 show a decline in revenue but better-than-expected profitability, with strong performance in Rest of the World and Europe. I expect DAVA's growth will recover to historical levels as the macro environment stabilizes and IT spending recovers, leading to a potential re-rating in valuation.

The stock market seems to be recovering from the October slump, as the S&P 500 and the Nasdaq have gained more than 3% and 6%, respectively, since the first week of November. However, not all stocks are benefiting from this year's broad rally.

Endava PLC Sponsored ADR (DAVA) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

LONDON--(BUSINESS WIRE)--Endava (NYSE: DAVA), a leading next-generation technology services provider, today announced it will release results for the first quarter ended September 30, 2023, on Wednesday November 15, 2023 before the opening of regular U.S. market hours. Following the release, John Cotterell, Endava's CEO and Mark Thurston, Endava's CFO, will discuss the results in a conference call beginning at 8:00 am ET. Conference call access information is: Participant Toll Free Dial-In Numb.

Endava's revenue for Q4 FY23 increased by 5.2% YoY, but there was a decrease of 6.8% QoQ. Several indicators, such as strong performance in the rest of the world, client base expansion, and management's growth expectations for FY24, suggest growth slowdown is cyclical not structural. Despite the long-term growth potential, there is uncertainty in near-term growth and margin, making it advisable to hold off on increasing investments in DAVA until the second half of 2024.