Needham analyst Mayank Tandon maintains $Endava (DAVA.US)$ with a buy rating, and adjusts the target price from $42 to $36.
According to TipRanks data, the analyst has a success rate of 47.1% and a total average return of 3.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Endava (DAVA.US)$'s main analysts recently are as follows:
After attending Endava's investor day event, an analyst highlighted the company's discussion on its business development over recent years and its strategy for sustained growth. The firm conveyed that despite the overall uneven demand, Endava's management is fortifying the company by diversifying its revenue sources and delivery capabilities, a process hastened by recent mergers and acquisitions. Additionally, the company is channeling investments into cutting-edge solutions, which are anticipated to propel growth when market demand stabilizes.
Endava's progress was clearly observed during the first quarter and the affirmation of the 2025 guidance was a crucial point. Improvement was noted among top clients, and despite some remaining choppiness, there is a formation of stability that is vital for a sustained recovery. The expectation of revenue acceleration in the second half of the year is likely to be a primary topic of discussion, although it's wise to assume that the demand backdrop will remain stable.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
