Endava price target lowered to $90 from $95 at Cowen

Cowen analyst Bryan Bergin lowered the firm’s price target on Endava to $90 from $95 and keeps an Outperform rating on the shares. The analyst said following the sharp reset in shares, we see an attractive entry as the company resets its growth and margin algo to reflect a real-time view on client engagement. Indeed, that approach encompasses risk should more macro weakening pervade tech spending.