When evaluated against major IT consulting and digital services peers—such as EPAM Systems, Accenture, Infosys, and Cognizant—Endava has historically traded at growth-oriented valuation premiums due to its agile engineering focus. However, recent macro headwinds, discretionary client spending reductions, and fluctuating enterprise IT budgets have created sharp volatility, causing its performance to lag behind large-cap tech peers while increasing its risk-reward profile for turnaround investors.