Ahead of its upcoming first-quarter earnings report, Endava (NYSE: DAVA) has been the subject of revised forecasts from prominent Wall Street analysts. The technology services company is scheduled to release its financial results on November 11. Market watchers anticipate earnings per share to be around 18 cents, a notable decline from the 25 cents reported in the same period last year. Revenue expectations are set at approximately $182.08 million, also showing a decrease compared to $195.05 million from the prior year, according to data compiled from financial sources. These updated projections come on the heels of Endava's stronger-than-anticipated performance in the fourth quarter, signaling a dynamic shift in investor and analyst sentiment.
Endava's stock saw a modest increase of 1.4% to close at $9.43 recently, indicating some market confidence despite the downward revision in earnings estimates. The company's performance has consistently drawn attention from financial experts, with several leading firms adjusting their outlooks in recent months. Investors often closely monitor these analyst ratings, as they can provide valuable insights into a stock's potential trajectory and market positioning. These assessments are typically available on platforms that aggregate analyst opinions, allowing stakeholders to track changes in ratings and price targets.
Specifically, several key analysts have recalibrated their positions on Endava. Morgan Stanley's James Faucette, known for an accuracy rate of 64%, maintained an 'Equal-Weight' rating but lowered the price target from $17 to $11 on September 5, 2025. Similarly, Needham's Mayank Tandon, with a 65% accuracy rate, reiterated a 'Buy' rating but significantly cut the price target from $20 to $12 on the same date. Furthermore, Susquehanna's James Friedman, holding a 53% accuracy rate, kept a 'Positive' rating but reduced the price target from $50 to $42 on May 20, 2025. These adjustments collectively reflect a more cautious, yet still largely optimistic, view of Endava's short-term financial prospects among these influential financial institutions.
These analyst revisions highlight the evolving landscape of expectations for Endava as it navigates the current economic climate. The company's ability to meet or exceed these revised expectations in its upcoming earnings call will be crucial in shaping its market narrative and potentially influencing future stock performance. Stakeholders will be keenly watching for any new information that could further clarify the company's outlook and strategic direction.