Jamf (NASDAQ:JAMF) Reaches New 12-Month Low - What's Next?

Key Points

• Jamf Holding Corp. shares hit a new 52-week low of $7.34, with analysts predicting a challenging outlook and several downgrading target prices significantly.
• The company reported quarterly earnings that missed expectations, posting an earnings per share of $0.08, below the consensus estimate of $0.21.
• Insider trading activity showed significant selling, with CEO John Strosahl and other insiders collectively offloading nearly 72,000 shares in recent months, indicating potential concerns about the stock's future performance.

Jamf Holding Corp. (NASDAQ:JAMF - Get Free Report)'s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $7.34 and last traded at $7.41, with a volume of 19752 shares. The stock had previously closed at $7.42.

Analyst Ratings Changes

A number of equities analysts have recently commented on JAMF shares. Canaccord Genuity Group dropped their target price on Jamf from $19.00 to $15.00 and set a "buy" rating for the company in a report on Friday. 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 report on Thursday, July 17th. Bank of America dropped their target price on Jamf from $15.00 to $12.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Mizuho dropped their price objective on Jamf from $15.00 to $13.00 and set an "outperform" rating for the company in a report on Wednesday, July 16th. Finally, Needham & Company LLC dropped their price objective on Jamf from $25.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.09.

Jamf Trading Up 7.9%

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $8.91 and a two-hundred day simple moving average of $11.45. The firm has a market capitalization of $1.04 billion, a P/E ratio of -20.28, a price-to-earnings-growth ratio of 1.39 and a beta of 0.36.

Jamf (NASDAQ:JAMF - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The business had revenue of $176.50 million during the quarter, compared to analyst estimates of $168.58 million. Jamf had a positive return on equity of 3.07% and a negative net margin of 7.36%. Jamf's revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.14 EPS. On average, equities research analysts anticipate that Jamf Holding Corp. will post 0.05 earnings per share for the current year.

Insider Transactions at Jamf

In related news, Director Dean Hager sold 27,720 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $10.34, for a total transaction of $286,624.80. Following the transaction, the director directly owned 270,347 shares in the company, valued at $2,795,387.98. The trade was a 9.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elizabeth Benz sold 11,526 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $10.70, for a total value of $123,328.20. Following the sale, the insider owned 347,249 shares in the company, valued at approximately $3,715,564.30. The trade was a 3.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,957 shares of company stock valued at $755,361. Company insiders own 2.70% of the company's stock.

Institutional Trading of Jamf

Large investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new stake in Jamf during the 1st quarter valued at about $126,000. Cetera Investment Advisers acquired a new position in Jamf in the 4th quarter worth about $145,000. SG Americas Securities LLC raised its holdings in Jamf by 97.6% in the 1st quarter. SG Americas Securities LLC now owns 57,493 shares of the company's stock worth $699,000 after purchasing an additional 28,394 shares during the period. BNP Paribas Financial Markets acquired a new position in Jamf in the 4th quarter worth about $931,000. Finally, Ameriprise Financial Inc. acquired a new position in Jamf in the 4th quarter worth about $158,000. 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.