Endava price target lowered to $33 from $40 at Citi

Citi lowered the firm’s price target on Endava to $33 from $40 and keeps a Neutral rating on the shares. The analyst continues to have a cautious view toward the enterprise IT spending environment into the Q1 reports with the demand environment relatively unchanged from late 2023. This includes continued pressures on discretionary spend and delayed decision-making as macro, geopolitical, and some industry-specific concerns remain, the analyst tells investors in a research note.