Jamf (NASDAQ:JAMF) Given New $12.00 Price Target at Bank of America

Jamf (NASDAQ:JAMF - Get Free Report) had its price target reduced by equities research analysts at Bank of America from $15.00 to $12.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's target price suggests a potential upside of 46.65% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Barclays upped their price objective on shares of Jamf from $13.00 to $15.00 and gave the company an "equal weight" rating in a report on Wednesday, May 7th. Morgan Stanley cut their price objective on shares of Jamf from $16.00 to $14.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. cut their price objective on shares of Jamf from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. JMP Securities restated a "market outperform" rating and issued a $27.00 price objective on shares of Jamf in a research report on Wednesday, May 28th. Finally, Mizuho set a $15.00 price objective on shares of Jamf in a research report on Wednesday, April 16th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $17.91.

Jamf Stock Performance

NASDAQ JAMF traded down $0.14 during trading on Wednesday, hitting $8.18. 258,590 shares of the company's stock traded hands, compared to its average volume of 674,797. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -21.49, a PEG ratio of 1.51 and a beta of 0.37. Jamf has a 12-month low of $7.95 and a 12-month high of $19.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.08 and a current ratio of 1.08. The business has a 50 day moving average of $9.89 and a 200-day moving average of $12.16.

Jamf (NASDAQ:JAMF - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.13). The business had revenue of $167.62 million for the quarter, compared to analysts' expectations of $166.22 million. Jamf had a negative net margin of 7.37% and a positive return on equity of 2.20%. Jamf's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $0.14 earnings per share. As a group, equities research analysts anticipate that Jamf will post 0.05 earnings per share for the current fiscal year.

Insider Activity at Jamf

In other Jamf news, insider Beth Tschida sold 11,878 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $10.34, for a total transaction of $122,818.52. Following the transaction, the insider directly owned 475,932 shares in the company, valued at $4,921,136.88. This trade represents a 2.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dean Hager sold 27,720 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $10.34, for a total transaction of $286,624.80. Following the transaction, the director owned 270,347 shares in the company, valued at $2,795,387.98. The trade was a 9.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,957 shares of company stock valued at $755,361. Company insiders own 2.70% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its position in Jamf by 33.1% during the second quarter. Janney Montgomery Scott LLC now owns 80,157 shares of the company's stock valued at $762,000 after acquiring an additional 19,955 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new position in Jamf during the second quarter valued at approximately $728,000. Assenagon Asset Management S.A. bought a new position in shares of Jamf in the second quarter worth approximately $322,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Jamf in the second quarter worth $115,000. Finally, Goldman Sachs Group Inc. increased its stake in shares of Jamf by 14.3% in the first quarter. Goldman Sachs Group Inc. now owns 553,323 shares of the company's stock worth $6,723,000 after buying an additional 69,414 shares during the period. 93.81% of the stock is currently owned by institutional investors.

Jamf Company Profile

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.