Endava price target lowered to $20 from $25 at Guggenheim

Guggenheim lowered the firm’s price target on Endava (DAVA) to $20 from $25 and keeps a Buy rating on the shares. Based on its channel conversations, the firm expects upside to Street expectations despite ongoing macroeconomic uncertainty and limited large deal conversions, the analyst tells investors. The firm is lowering its price target to reflect industry-wide multiple compression, the analyst noted.