Endava Stock Shows Unusual Strength, Providing Cloud Engineering, Test And Consulting Services

Computer tech services are in high demand and software engineering, test and tech consulting firm Endava (DAVA) is belting it out of the park. On Wednesday,  the Relative Strength (RS) Rating  for Endava stock climbed to a lofty 93, up from 89 the day before.


The 93 RS Rating means that Endava stock is outperforming 93% of all stocks in terms of price strength. Market research shows that the market’s biggest winners typically have an 80 or better RS Rating as they launch their largest climbs.

Endava Stock Shines As Cloud Adoption Grows

Endava is in some of the hottest software sectors in addition to basic engineering, providing cloud transformation, test automation and test consulting services.

Among other key ratings, U.K.-based Endava also sports a 98 EPS Rating on a 1-99 scale with 1 dismal and 99 superb. Additionally, small cap Endava stock also has a 98 Composite Rating.

IBD’s Composite Rating combines five separate proprietary ratings of fundamental and technical performance into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.

In terms of top and bottom line numbers, Endava has posted rising EPS growth over the last two quarters. Sales growth has also moved higher during the same period. Last quarter, Endava’s earnings surged 104% year over year to 57 cents on a 65% gain in revenue, to $184.6 million.

Endava stock earns the No. 6 rank among its peers in the Computer-Technical Services industry group. Epam Systems (EPAM), Globant (GLOB) and Perficient (PRFT) are among the top 5 highly rated stocks within the group. The group itself is ranked a strong No. 8 on IBD’s list of 197 industries.

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Endava is building a consolidation with a 143.60 entry. It was trading at 128.53 Wednesday midday, up 3.3% for the day. See if the stock can break out in volume at least 40% higher than normal.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength. IBD’s unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock’s price action over the last 52 weeks matches up against other publicly traded companies.


IBD Stock Rating Upgrades: Rising Relative Strength

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