Endava initiated with neutral view at JPMorgan, here’s why

JPMorgan initiated coverage of Endava with a Neutral rating and $77 price target. The analyst is bullish on Endava’s long-term growth and earnings potential, supported by its payments franchise and opportunity to leverage embedded finance expertise across other verticals. However, the firm is cautious on the near-term, saying the company’s first half of 2024 sequential growth expectations look high versus comps