Endava price target lowered to $11 from $17 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Endava (DAVA) to $11 from $17 and keeps an Equal Weight rating on the shares. While “encouraged” by Endava’s Gen AI investments and expanding partner ecosystem, the company’s FY26 growth forecast of (1.5) to up 0.5% year-over-year in constant currency suggests “a transitional year” and near-term margin pressure is likely to overshadow long-term benefits, the analyst tells investors.