Jamf (NASDAQ:JAMF) Price Target Cut to $12.00 by Analysts at Bank of America

Jamf (NASDAQ:JAMF - Get Free Report) had its price target lowered by stock analysts at Bank of America from $15.00 to $12.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Bank of America's price objective would suggest a potential upside of 47.78% from the stock's previous close.

Several other equities analysts have also weighed in on JAMF. JMP Securities reiterated a "market outperform" rating and issued a $27.00 target price on shares of Jamf in a report on Wednesday, May 28th. Mizuho set a $15.00 price target on shares of Jamf in a research note on Wednesday, April 16th. Morgan Stanley dropped their price target on shares of Jamf from $16.00 to $14.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on shares of Jamf from $18.00 to $15.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Barclays increased their price target on shares of Jamf from $13.00 to $15.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Jamf currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.91.

Jamf Price Performance

Shares of JAMF stock traded down $0.20 on Wednesday, reaching $8.12. 1,057,147 shares of the company were exchanged, compared to its average volume of 679,456. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 101.50, a P/E/G ratio of 1.47 and a beta of 0.37. Jamf has a 1 year low of $7.95 and a 1 year high of $18.99. The business has a 50-day moving average price of $9.83 and a 200 day moving average price of $12.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.08 and a current ratio of 1.08.

Jamf (NASDAQ:JAMF - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.13). The business had revenue of $167.62 million for the quarter, compared to analyst estimates of $166.22 million. Jamf had a positive return on equity of 2.20% and a negative net margin of 7.37%. The business's revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Equities research analysts forecast that Jamf will post 0.05 earnings per share for the current fiscal year.

Insider Activity at Jamf

In other Jamf news, CEO John Strosahl sold 16,125 shares of the firm'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 completion of the transaction, the chief executive officer owned 1,524,101 shares of the company's stock, valued at $16,384,085.75. This trade represents a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Elizabeth Benz sold 11,526 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $10.70, for a total transaction of $123,328.20. Following the completion of the transaction, the insider directly owned 347,249 shares of the company's stock, valued at $3,715,564.30. This represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,957 shares of company stock worth $755,361. Company insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Jamf

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Jamf by 8.4% in the 4th quarter. Wellington Management Group LLP now owns 10,845,212 shares of the company's stock valued at $152,375,000 after buying an additional 841,239 shares during the period. Vanguard Group Inc. raised its holdings in shares of Jamf by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 8,756,608 shares of the company's stock valued at $123,030,000 after purchasing an additional 114,036 shares in the last quarter. Sunriver Management LLC acquired a new stake in shares of Jamf in the 1st quarter valued at $37,394,000. Clearbridge Investments LLC raised its holdings in shares of Jamf by 20.2% in the 4th quarter. Clearbridge Investments LLC now owns 2,434,960 shares of the company's stock valued at $34,211,000 after purchasing an additional 409,531 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Jamf by 8.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,081,200 shares of the company's stock valued at $29,242,000 after purchasing an additional 167,909 shares in the last quarter. Hedge funds and other institutional investors own 93.81% of the company's stock.

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.