Endava price target lowered to $28 from $40 at Guggenheim

Guggenheim lowered the firm’s price target on Endava (DAVA) to $28 from $40 and keeps a Buy rating on the shares. The firm expects Endava management to reiterate its current FY25 outlook despite the elevated uncertainty of the current macroeconomic environment, but is lowering its price target given a broader sector re-rating, the analyst tells investors.