Endava price target lowered to $85 from $95 at Citi

Citi analyst Ashwin Shirvaikar lowered the firm’s price target on Endava to $85 from $95 and keeps a Buy rating on the shares. The analyst would stay cautious on enterprise spending through 2023. However, while digital services growth has slowed due to macro weakness, it remains materially higher than industry growth and digital services continue to gain wallet share, the analyst tells investors in a research note.