Jamf (NASDAQ:JAMF) Price Target Lowered to $15.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reduced Jamf's price target from $19.00 to $15.00, indicating a potential upside of 89.63% based on the company's previous close.
• Jamf reported a Q2 EPS of $0.18, surpassing analysts' expectations by $0.01, and showing a revenue increase of 15.4% year-over-year.
• Insiders at Jamf sold a combined total of 71,957 shares worth approximately $755,361 over the last three months, resulting in a 2.70% insider ownership of the stock.

Jamf (NASDAQ:JAMF - Free Report) had its target price trimmed by Canaccord Genuity Group from $19.00 to $15.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms also recently commented on JAMF. JMP Securities dropped their price objective on shares of Jamf from $27.00 to $18.00 and set a "market outperform" rating on the stock in a report on Friday, August 8th. Mizuho dropped their price objective on shares of Jamf from $15.00 to $13.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Bank of America dropped their price objective on shares of Jamf from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. JPMorgan Chase & Co. dropped their price objective on shares of Jamf from $15.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday, July 17th. Finally, Needham & Company LLC decreased their price target on Jamf from $25.00 to $20.00 and set a "buy" rating on the stock in a research report on Thursday, July 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

Jamf Stock Performance

JAMF traded up $0.44 during trading on Friday, hitting $8.66. 272,272 shares of the company traded hands, compared to its average volume of 929,374. The firm has a market cap of $1.14 billion, a P/E ratio of -22.02, a price-to-earnings-growth ratio of 1.50 and a beta of 0.36. The stock's fifty day moving average is $8.82 and its 200 day moving average is $11.36. The company has a quick ratio of 1.08, a current ratio of 1.45 and a debt-to-equity ratio of 0.97. Jamf has a one year low of $7.09 and a one year high of $18.99.

Jamf (NASDAQ:JAMF - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $176.50 million during the quarter, compared to analyst estimates of $168.58 million. Jamf had a negative net margin of 7.36% and a positive return on equity of 3.02%. The firm's revenue for the quarter was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. As a group, equities analysts predict that Jamf will post 0.05 EPS for the current fiscal year.

Insider Activity at Jamf

In related news, CEO John Strosahl sold 16,125 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $10.75, for a total value of $173,343.75. Following the transaction, the chief executive officer directly owned 1,524,101 shares in the company, valued at approximately $16,384,085.75. This represents a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Beth Tschida sold 11,878 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $10.34, for a total transaction of $122,818.52. Following the completion of the transaction, the insider owned 475,932 shares in the company, valued at approximately $4,921,136.88. This trade represents a 2.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,957 shares of company stock valued at $755,361 in the last ninety days. 2.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of JAMF. Sunriver Management LLC bought a new position in Jamf during the first quarter valued at approximately $37,394,000. Palisade Capital Management LP bought a new position in Jamf during the first quarter valued at approximately $7,567,000. Cubist Systematic Strategies LLC grew its position in Jamf by 280.7% during the first quarter. Cubist Systematic Strategies LLC now owns 545,484 shares of the company's stock valued at $6,628,000 after acquiring an additional 402,187 shares during the last quarter. Marshall Wace LLP grew its position in Jamf by 61.9% during the fourth quarter. Marshall Wace LLP now owns 778,629 shares of the company's stock valued at $10,940,000 after acquiring an additional 297,804 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in Jamf by 1,296.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 273,356 shares of the company's stock valued at $2,600,000 after acquiring an additional 253,786 shares during the last quarter. 93.81% of the stock is currently owned by institutional investors.

About Jamf

Jamf Holding Corp. offers a cloud software platform for Apple infrastructure and security platform in the Americas, Europe, the Middle East, India, and Africa. Its products include Jamf Pro, an Apple ecosystem management software solution for IT environments; Jamf Now, a pay-as-you-go Apple device management software solution for small-to-medium-sized businesses; Jamf School, an apple mobile device management for schools; and Jamf Connect, a ZTNA solution that replaces legacy conditional access and VPN technology.