William Blair downgrades Endava following disappointing outlook amid constrained demand

Endava

11/11/2025 19:24

** Shares of software technology company Endava PLC DAVA.N down about 26.6% at $6.92 in afternoon trading

** William Blair downgrades DAVA to "market perform" from "outperform"

** Brokerage says the downgrade is because the current setup for a growth recovery is more challenging for the company than previously anticipated

** "While short-term reprieve may come from easing interest rates or improved tariff visibility, which could drive improved discretionary spending, the overall environment remains difficult" — William Blair

** Five of the 11 analysts covering DAVA rate the stock "buy" or higher, and six "hold"; their median PT is $11.50 — data compiled by LSEG

** Including session's move, DAVA shares down ~77.6% YTD

(Reporting by Anuj T in Bengaluru)

((anuj.t@thomsonreuters.com))