Endava price target lowered to $83 from $100 at Susquehanna

Susquehanna lowered the firm’s price target on Endava to $83 from $100 and keeps a Positive rating on the shares. The firm said Endava appears to have landed some new contracts, and expanded with a major incumbent client. Still small enough, a few deals can make a difference. That said, they are encouraged by a stabilizing cadence and despite cutting near term estimates, they modeled rapid acceleration beginning again towards the FY year’s exit in June.