Endava price target lowered to $25 from $28 at Guggenheim

Guggenheim lowered the firm’s price target on Endava (DAVA) to $25 from $28 and keeps a Buy rating on the shares. While “mindful” of extended decision cycles as well as associated deal ramp timelines that may keep Endava in its admitted “air pocket” in its pursuit of larger core modernization deals, the risk/reward at current levels continues to skew positive, the analyst tells investors in a post-earnings note.