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Analysts are lowering their price targets and quarterly earnings are expected to decline. Historically, such reductions often lead to sell-offs and price pressures.
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Endava's Q1 earnings release on Nov. 11 expected at 18 cents per share. Revenue forecast at $182.08 million, down from $195.05 million last year. Analysts have mixed ratings; price targets have been lowered significantly. Morgan Stanley reduced target from $17 to $11; Needham cut from $20 to $12. Endava's shares rose 1.4% to close at $9.43 before earnings.
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