Endava Shares Plunge as Morningstar Slashes Valuation

Morningstar has delivered a stunning blow to Endava, cutting its fair value estimate for the IT services firm by precisely half in one of the most severe valuation downgrades witnessed in US markets. The research firm now values the company’s shares at $13.60, a dramatic reduction from its previous $27.00 assessment, placing Endava among the market’s worst-performing equities.

This substantial valuation cut stems directly from disappointing business performance. Market analysts point to several critical factors behind the downward revision:

• First fiscal quarter results that failed to meet expectations
• Management’s weakened outlook for the second quarter
• A downwardly revised annual forecast from company leadership
• Reduced Read more...