JMP Securities Has Lowered Expectations for Jamf (NASDAQ:JAMF) Stock Price

Key Points

• JMP Securities has lowered its target price for Jamf (NASDAQ:JAMF) from $27.00 to $18.00, while maintaining a "market outperform" rating.
• Other firms have also decreased their price targets, with Jamf's average target now at $16.64 amidst a mix of buy and hold ratings from analysts.
• In recent trading, Jamf's shares increased to $8.02, reflecting significant volatility since the stock's twelve month high of $18.99.

Jamf (NASDAQ:JAMF - Get Free Report) had its target price cut by research analysts at JMP Securities from $27.00 to $18.00 in a report issued on Friday,Benzinga reports. The firm presently has a "market outperform" rating on the stock. JMP Securities' price target would indicate a potential upside of 118.98% from the company's current price.

JAMF has been the topic of a number of other research reports. Needham & Company LLC lowered 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. JPMorgan Chase & Co. dropped their target price on Jamf from $15.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, July 17th. Barclays cut their price target on Jamf from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, July 21st. Bank of America decreased their target price on Jamf from $15.00 to $12.00 and set a "neutral" rating for the company in a research report on Wednesday, July 16th. Finally, Mizuho reduced their price objective on shares of Jamf from $15.00 to $13.00 and set an "outperform" rating for the company in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Jamf currently has an average rating of "Moderate Buy" and an average target price of $16.00.

Jamf Stock Up 3.5%

Shares of JAMF stock traded up $0.28 during mid-day trading on Friday, hitting $8.22. The stock had a trading volume of 1,802,502 shares, compared to its average volume of 934,164. The firm's 50-day moving average is $8.86 and its two-hundred day moving average is $11.38. 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 has a 12-month low of $7.09 and a 12-month high of $18.99. The firm has a market capitalization of $1.08 billion, a P/E ratio of -21.08, a price-to-earnings-growth ratio of 1.40 and a beta of 0.36.

Jamf (NASDAQ:JAMF - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. Jamf had a negative net margin of 7.36% and a positive return on equity of 3.07%. The company had revenue of $176.50 million for the quarter, compared to the consensus estimate of $168.58 million. During the same quarter in the prior year, the company earned $0.14 EPS. Jamf's quarterly revenue was up 15.4% on a year-over-year basis. On average, analysts predict that Jamf will post 0.05 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Beth Tschida sold 11,878 shares of the business'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 transaction, the insider directly owned 475,932 shares of the company's stock, valued at approximately $4,921,136.88. The trade was a 2.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Strosahl sold 16,125 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $10.75, for a total transaction of $173,343.75. Following the sale, the chief executive officer owned 1,524,101 shares of the company's stock, valued at approximately $16,384,085.75. The trade was a 1.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,957 shares of company stock valued at $755,361. 2.70% of the stock is currently owned by company insiders.

Institutional Trading of Jamf

A number of institutional investors have recently made changes to their positions in the stock. LPL Financial LLC purchased a new stake in Jamf during the fourth quarter valued at approximately $235,000. Wells Fargo & Company MN lifted its position in shares of Jamf by 52.8% in the fourth quarter. Wells Fargo & Company MN now owns 44,717 shares of the company's stock worth $628,000 after buying an additional 15,454 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Jamf by 21.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 80,057 shares of the company's stock worth $1,125,000 after buying an additional 14,152 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Jamf by 53.5% in the 4th quarter. Renaissance Technologies LLC now owns 143,400 shares of the company's stock worth $2,015,000 after buying an additional 50,000 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Jamf during the 4th quarter valued at about $519,000. 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.