Susquehanna analyst James Friedman lowered the firm’s price target on Endava to $55 from $66 and keeps a Positive rating on the shares. The company’s CEO is still describing the overall demand environment as “challenging,” with a continued trend of elongated decision-making, and the firm is adjusting estimates. While noting that near-term restructuring costs are weighing on margins, the firm says it is “encouraged” that Endava is expected to grow headcount in FY25.
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