HSBC Downgrades Endava: Here's What You Need To Know

HSBC downgraded its rating of Endava DAVA to Hold with a price target of $80.00, changing its price target from $68.00 to $80.00.

Shares of Endava are trading down 2.28% over the last 24 hours, at $72.95 per share.

A move to $80.00 would account for a 9.66% increase from the current share price.

About Endava

Endava is a next-generation IT services company that primarily assists clients with their digital transformation efforts by creating customized software for them. The company was founded in 2006 in the U.K. and it continues to generate the majority of revenue in the U.K. and Europe. Endava's client base is concentrated in the payments and financial services, technology, media, and telecom industries.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.