Endava Announces Second Quarter Fiscal Year 2024 Results

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Citi Downgrades Endava PLC (ADR) (DAVA) to Neutral, 'Idiosyncratic Factors + Macro Risks'

March 1, 2024 5:30 AM EST

Citi analyst Ashwin Shirvaikar downgraded Endava PLC (ADR) (NYSE: DAVA) from Buy to Neutral with a price target of $40.00 (from $90.00).

The analyst comments "Our below-consensus and below-outlook estimates for Endava proved too high as Endava announced a sharp ~9% cut in revenue expectations. We note that... More