Endava Analysts Slash Their Forecasts Following Downbeat Q3 Results

Benzinga05-23

Endava PLC – ADR (NYSE:DAVA) on Thursday reported worse-than-expected third-quarter financial results and cut its FY26 guidance below estimates. Endava reported quarterly earnings of 7 cents per share...

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The company reported quarterly sales of $240.662 million which missed the analyst consensus estimate of $249.690 million.\nEndava cut its FY2026 adjusted EPS guidance from $1.10-$1.18 to $0.61-$0.66 and also lowered sales guidance from $1.008 billion-$1.028 billion to $972.956 million-$978.348 million.\n“This has been one of the more challenging periods Endava has faced in recent years. Demand remains uneven across sectors, deal cycles continue to be extended, and clients are scrutinizing technology spending more carefully than at any point since the macro slowdown began. Against this backdrop, revenue came in below expectations, margin contracted, and we recognized a non-cash goodwill impairment,\" said John Cotterell, Endava’s CEO.\nEndava shares fell 2.4% to trade at $3.25 on Friday.\nThese analysts made changes to their price targets on Endava following earnings announcement.\n\nJP Morgan analyst Puneet Jain downgraded Endava from Neutral to Underweight and cut the price target from $9 to $5.\nMorgan Stanley analyst James Faucette maintained the stock with an Equal-Weight rating and lowered the price target from $8 to $4.\nTD Cowen analyst Bryan Bergin maintained Endava with a Hold and lowered the price target from $6 to $4.\n\nConsidering buying DAVA stock? 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