Digital Transformation Services Demand: Endava's Outlook Amid Ongoing US Banking Crisis
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Mayank Tandon reiterated a Buy rating on Endava Plc (NYSE:DAVA) but lowered the price target to $68 from $90. Endava's 3Q FY23 results exceeded expectations, but growth is expected to be pressured due to ongoing macro pressure and the US regional banking crisis.
May 24, 2023 | 6:24 pm
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Endava's growth may be pressured in the short term due to ongoing macro pressure and the US regional banking crisis, but growth is expected to return to trend once economic conditions stabilize.
Endava's 3Q FY23 results exceeded expectations, but the analyst expects growth to be pressured due to ongoing macro pressure and the US regional banking crisis. The lowered price target reflects these concerns, but the Buy rating suggests that the analyst believes growth will return to trend once economic conditions stabilize.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100