Endava PLC ADR

DAVA: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$12.00	Yxrgfq	Dpywjmzjx

Endava Earnings: Timing and Magnitude of Growth Recovery Highly Uncertain; Cutting Valuation by 32%

Rob Hales

Sep 24, 2024

We’re cutting our Endava fair value estimate to $42 from $62 after reviewing fourth-quarter results and fiscal 2025 guidance. We’ve dropped our long-term revenue CAGR to 9.7% from 13.6% and trimmed our margin estimates modestly. We maintain our narrow moat rating. Despite the significant haircut to our estimates and fair value estimate, shares continue to look undervalued.

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