JPMorgan Cuts PT on Endava, Morgan Stanley Reiterates Hold Rating

JPMorgan reduced its price target on Endava plc (NYSE:DAVA) to $17 from $18 while maintaining a Neutral rating, citing the IT services sector's third consecutive year of below-average sales growth. Morgan Stanley's James Faucette reiterated its Hold rating and $17 target, emphasizing slower near-term growth due to larger IT services growth trends.

Analysts have recently adjusted their price targets for Endava plc (NYSE:DAVA), reflecting the current market conditions and sector trends. JPMorgan Chase reduced its price target to $17 from $18, maintaining a Neutral rating, citing the IT services sector's third consecutive year of below-average sales growth [1]. Morgan Stanley's James Faucette reiterated its Hold rating and $17 target, emphasizing slower near-term growth due to larger IT services growth trends [2].

Endava plc, a global IT services and consulting company, has seen a mixed reaction from analysts. While some have maintained a positive outlook, others have downgraded their ratings and price targets. The company's stock price has been volatile, closing at $14.41 on Wednesday, reflecting the varying analyst opinions.

The IT services sector has been under pressure due to slower growth, with many companies experiencing below-average sales. This trend has led to a more cautious approach from analysts, who are adjusting their targets accordingly. However, Endava plc's stock price has shown resilience, with a 5.39% increase over the past five days, indicating that some investors remain optimistic about the company's prospects.

In conclusion, the recent adjustments to Endava plc's price targets reflect the broader trends in the IT services sector. While some analysts remain neutral or cautious, others continue to see potential in the company. Investors should closely monitor the company's financial performance and analyst ratings to make informed investment decisions.

References:
[1] https://www.inkl.com/news/nvidia-to-rally-around-27-here-are-10-top-analyst-forecasts-for-thursday
[2] https://www.marketscreener.com/quote/stock/ENDAVA-PLC-45064774/consensus/