DAVA Stock Recent News

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.

As autumn arrives, it's time for investors to harvest the opportunities in beaten-down technology stocks. After a dismal year, many tech companies now trade at deep discounts despite improving economic conditions.

Endava plc (NYSE:DAVA ) Q4 2023 Earnings Call Transcript September 19, 2023 8:00 AM ET Company Participants Laurence Madsen - Head of IR and ESG John Cotterell - CEO Mark Thurston - CFO Conference Call Participants Bryan Bergin - TD Cowen James Faucette - Morgan Stanley Bryan Keane - Deutsche Bank Moshe Katri - Wedbush Securities Maggie Nolan - William Blair Operator Good morning and welcome to the Endava Q4 and Fiscal Year 2023 Results Conference Call. All participants will be in listen-only mode.

Endava issued below expected financial year 2024 guidance as the technology company continues to be impacted by its outsized to Europe, FinTech and private equity and High Tech companies, analysts at Wedbush believe. Endava, along with reporting its fourth quarter and full-year fiscal 2024 results before the opening bell on Tuesday, said it expects first quarter fiscal 2024 revenue in the range of £186 million (US$230.7 million) to £187 million (US$231.9 million), representing a constant currency decline between 2% to 1%.

Endava reported fourth quarter fiscal 2023 earnings that topped expectations, sending its shares higher. Shares of the London-based technology company gained 6.2% at US$54.16 on Tuesday morning.

Endava PLC Sponsored ADR (DAVA) came out with quarterly earnings of $0.71 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $0.64 per share a year ago.

Endava is expected to report higher revenue but lower earnings for the fourth quarter of fiscal 2023 when it hands down its latest financial results before the stock market opens on Tuesday, September 19. For the quarter, Endava said it expects its revenue to be in the range of £187 million (US$231.9 million) to £189 million (US$234.3 million), representing constant currency revenue growth between 3%% and 4%, and earnings per share (EPS) in the range of £0.44 (US$0.55) to £0.45 (US$0.56) per share.

Endava's revenue has grown at a CAGR of 35% during the last decade, driven by an aggressive go-to-market strategy, which involves strong marketing, bolt-on acquisitions, and international expansion. We see scope for a continuation of its current trajectory, owing to expanding its presence in the US, AI, and other technology trends, and the further development of its market. Economic conditions are not materially slowing the business, with 20.3% top-line growth. Endava continues to win new clients and successfully upsell.

LONDON--(BUSINESS WIRE)--Endava (NYSE: DAVA), a leading next-generation technology services provider, today announced it will release results for the fourth quarter and fiscal year ended June 30, 2023, on Tuesday September 19, 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 D.