Endava Shares Plunge as Growth Strategy Falters

The British IT services provider Endava finds itself navigating turbulent waters as its growth narrative unravels. A disappointing earnings report and a pessimistic outlook for the coming fiscal year have triggered a sustained sell-off, with the stock price failing to stabilize. The company, once a market darling, now faces serious questions about its future trajectory.

The financial community has responded decisively to the company’s bleak projections. Multiple prominent institutions have slashed their price targets. Morgan Stanley adjusted its target to $11, maintaining a “Hold” recommendation. In a telling move, even the typically bullish analysts at Needham reduced their target to $12, despite retaining a “Strong Buy” rating. This indicates that even the most optimistic market watchers have been forced to drastically... Read more...