Jamf (NASDAQ:JAMF) Price Target Lowered to $18.00 at JMP Securities

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 dropped by research analysts at JMP Securities from $27.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. JMP Securities' target price points to a potential upside of 124.38% from the stock's previous close.

A number of other research firms also recently commented on JAMF. Morgan Stanley lowered their target price 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. Barclays lowered their target price on Jamf from $15.00 to $10.00 and set an "equal weight" rating on the stock in a report on Monday, July 21st. Mizuho dropped their price objective on shares of Jamf from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Bank of America decreased their price objective on Jamf from $15.00 to $12.00 and set a "neutral" rating for the company in a research note on Wednesday, July 16th. Finally, Needham & Company LLC decreased their price target on shares of Jamf from $25.00 to $20.00 and set a "buy" rating for the company in a research note on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Jamf has an average rating of "Moderate Buy" and an average price target of $16.64.

Jamf Price Performance

Shares of NASDAQ:JAMF traded up $0.69 during midday trading on Friday, hitting $8.02. The company had a trading volume of 1,795,499 shares, compared to its average volume of 900,924. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.08 and a quick ratio of 1.08. The business's 50-day simple moving average is $8.96 and its 200-day simple moving average is $11.52. Jamf has a twelve month low of $7.09 and a twelve month high of $18.99. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -21.11, a price-to-earnings-growth ratio of 1.26 and a beta of 0.36.

Jamf (NASDAQ:JAMF - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The company had revenue of $176.50 million for the quarter, compared to analyst estimates of $168.58 million. Jamf had a negative net margin of 7.37% and a positive return on equity of 2.20%. Jamf's quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 earnings per share. On average, research analysts predict that Jamf will post 0.05 earnings per share for the current year.

Insider Buying and Selling

In other Jamf news, CEO John Strosahl sold 16,125 shares of the business's stock in a transaction 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 owned 1,524,101 shares in the company, valued at $16,384,085.75. The trade was a 1.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dean Hager sold 27,720 shares of the firm'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 value of $286,624.80. Following the completion of the sale, the director directly owned 270,347 shares in the company, valued at approximately $2,795,387.98. This trade represents a 9.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,957 shares of company stock valued at $755,361. Corporate insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Jamf

A number of institutional investors have recently made changes to their positions in the business. Sunriver Management LLC acquired a new stake in shares of Jamf in the 1st quarter valued at $37,394,000. Palisade Capital Management LP bought a new stake in shares of Jamf in the first quarter valued at approximately $7,567,000. Cubist Systematic Strategies LLC increased its position in Jamf by 280.7% in the 1st 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 period. Marshall Wace LLP grew its holdings in Jamf by 61.9% during the 4th quarter. Marshall Wace LLP now owns 778,629 shares of the company's stock worth $10,940,000 after acquiring an additional 297,804 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in Jamf by 1,296.8% in the second quarter. Y Intercept Hong Kong Ltd now owns 273,356 shares of the company's stock worth $2,600,000 after acquiring an additional 253,786 shares in the last quarter. 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.

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