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Endava price target lowered to $18 from $22 at Needham

Needham lowered the firm’s price target on Endava (DAVA) to $18 from $22 and keeps a Buy rating on the shares. The company’s Q3 results were mixed with a revenue miss due to weaker client demand, though its lower expenses helped boost margins and earnings, the analyst tells investors in a research note. The firm’s expectations for AI adoption to begin helping growth over the second half of 2025 and into 2026 make risk-reward favorable for SMID value investors, the firm added.

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