Needham & Company LLC Has Lowered Expectations for Jamf (NASDAQ:JAMF) Stock Price

Jamf (NASDAQ:JAMF - Get Free Report) had its price objective decreased by analysts at Needham & Company LLC from $25.00 to $20.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's target price points to a potential upside of 146.31% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Mizuho cut their price target on shares of Jamf from $15.00 to $13.00 and set an "outperform" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Jamf from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Barclays raised their price objective on shares of Jamf from $13.00 to $15.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. JMP Securities reissued a "market outperform" rating and set a $27.00 price objective on shares of Jamf in a research report on Wednesday, May 28th. Finally, Morgan Stanley lowered their price objective on shares of Jamf from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. 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.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.91.

Jamf Stock Down 2.4%

Shares of JAMF traded down $0.20 during midday trading on Thursday, reaching $8.12. The stock had a trading volume of 1,057,147 shares, compared to its average volume of 677,844. Jamf has a 1-year low of $7.95 and a 1-year high of $19.05. The company's fifty day simple moving average is $9.89 and its two-hundred day simple moving average is $12.16. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -21.37, a PEG ratio of 1.51 and a beta of 0.37. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 1.08.

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

Insider Activity

In related news, insider Beth Tschida sold 11,878 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $10.34, for a total value of $122,818.52. Following the completion of the sale, the insider 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dean Hager sold 27,720 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $10.34, for a total transaction of $286,624.80. Following the completion of the sale, the director owned 270,347 shares of the company's stock, valued at $2,795,387.98. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,957 shares of company stock worth $755,361 in the last ninety days. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Jamf

Several hedge funds and other institutional investors have recently made changes to their positions in JAMF. Sunriver Management LLC acquired a new stake in shares of Jamf in the first quarter valued at about $37,394,000. Wellington Management Group LLP raised its position in Jamf by 8.4% during the fourth quarter. Wellington Management Group LLP now owns 10,845,212 shares of the company's stock worth $152,375,000 after acquiring an additional 841,239 shares during the last quarter. Palisade Capital Management LP acquired a new position in Jamf during the first quarter worth about $7,567,000. Clearbridge Investments LLC raised its position in shares of Jamf by 20.2% in the fourth quarter. Clearbridge Investments LLC now owns 2,434,960 shares of the company's stock valued at $34,211,000 after buying an additional 409,531 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Jamf by 280.7% in the first quarter. Cubist Systematic Strategies LLC now owns 545,484 shares of the company's stock valued at $6,628,000 after buying an additional 402,187 shares during the last quarter. Institutional investors and hedge funds own 93.81% of the company's stock.

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.