BofA starts Endava with Neutral, calls ‘show-me story’

BofA analyst Tyler DuPont initiated coverage of Endava (DAVA) with a Neutral rating and $29 price target Endava is a leading global IT services provider facilitating digital transformation for enterprises across a variety of industries, geographies, and service lines, the analyst tells investors in a research note. The firm believes the stock’s 64% drop year-to-date is justified given the company’s softer growth and margin profile versus. peers. Following several quarters of missed execution and current fiscal 2025 guidance implying flat-ish revenue growth, Endava is a “show-me story,” contends BofA. The firm looks for further improvement in the company’s organic constant-currency growth profile.