Bryan Bergin, an analyst from TD Cowen, maintained the Hold rating on Endava. The associated price target was lowered to $8.00.
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Bryan Bergin has given his Hold rating due to a combination of factors affecting Endava’s financial performance. The company missed its first-quarter growth and earnings estimates, which has led to a reduction in its fiscal year 2026 guidance. This underperformance is attributed to a client credit issue and a lack of pipeline conversion, which have resulted in a lack of confidence from the market.
Additionally, Endava is facing challenges with its transition to a new business model and delivery approach, particularly in leveraging AI-led productivity benefits. Despite efforts to incorporate AI across its operations and some success in securing large deals, the company’s financial performance remains volatile. This volatility, coupled with a contraction in its top line and difficulties in meeting financial projections, has led to a cautious outlook and a Hold rating from Bryan Bergin.
Bergin covers the Technology sector, focusing on stocks such as Accenture, Block, and Genpact. According to TipRanks, Bergin has an average return of -1.1% and a 44.09% success rate on recommended stocks.
In another report released today, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $8.50 price target.