Endava Faces Analyst's Cautious Outlook Amid Industry Uncertainty, Price Target Reduced
Portfolio Pulse from Nabaparna Bhattacharya
Susquehanna analyst James E Friedman has reiterated a Positive rating on Endava Plc (NYSE:DAVA) but lowered the price target from $104.00 to $100.00 due to industry uncertainty. The analyst trimmed September estimates and noted a decline in Endava's current revenue per workday growth. However, the company is expected to benefit from technological change and the DEK acquisition.
June 12, 2023 | 5:57 pm
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NEUTRAL IMPACT
Endava's price target has been lowered from $104.00 to $100.00 by Susquehanna analyst James E Friedman due to industry uncertainty. The company's revenue per workday growth has declined, but it is expected to benefit from technological change and the DEK acquisition.
The analyst has maintained a Positive rating on Endava, but the lowered price target indicates some caution due to industry uncertainty. The decline in revenue per workday growth and potential risks, such as losing a top 10 customer or a market slowdown, may have a negative impact on the stock. However, the company's expected benefits from technological change and the DEK acquisition could offset these risks, resulting in a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100