The tech sector rebounded in the first half of 2023, adding an astonishing 41.2%, easily outpacing what was already considered a solid quarter of performance for the broader S&P 500 index (up 16.9%). But the lion’s share of that increase was due to the surging prices of a handful of the biggest names in the sector, resulting in a top-heavy market.
As such, short-term volatility among prominent tech stocks could indicate a significant rebalancing away from big tech in the second half. Today we’re highlighting a compelling mid-cap up-and-comer that could be on the precipice of a substantial turnaround…
Endava PLC (DAVA)
Endava (DAVA) is a compelling choice; It excels in helping other businesses modernize their technology for the sake of agility and relevance. With a remarkable track record, DAVA shows revenue growth of 32% from 2018 to 2022, driven by customer acquisitions and a retention rate of almost 90%. DAVA experienced a rapid increase in sales from its most prominent clients. While diversifying its customer base, DAVA is also pursuing a market opportunity that could be valued in the trillions by 2026. With significant further growth potential, DAVA presents itself as an enticing long-term prospect.
DAVA is down year-to-date by 22.95% and is trading near the bottom of its 52-week range, leaving some room for an opportunity to “buy the dip.” Expected to report $188.5 million in sales at $0.45 per share for the current quarter, DAVA most recently beat analysts’ estimates on both EPS and revenue by margins of 10.98% and 0.98%, respectively. With TTM asset growth of 16.83%, DAVA also shows year-over-year growth in critical areas such as revenue (+20.28%), net income (+21.17%), EPS (+20%), and operating income (+18.44%). DAVA has $99.19 million in free cash flow and a modest 10-day average volume of around 327 thousand shares. From analysts, DAVA has an average price target of $72.50, with a high of $103.91 and a low of $55.77, suggesting an upside potential of over 76%. DAVA has six buy ratings and one hold rating.
Secret Gold Back currency RUINING Biden’s plans for a digital dollar?
There is a secret currency that’s beginning to spread across America.
And you only have a limited time to claim one of these “Gold Dollars” for yourself.
AAnd since it is made out of REAL gold…
You can understand why I have a limited quantity to give out today.
You just have to watch this short 2 minute video I recorded for you and respond by immediately.
If you don’t respond, you’ll forfeit this offer and these “Gold Dollars” may be gone for good.
[Click here now for details.]