Jamf (NASDAQ:JAMF) Reaches New 12-Month Low - Here's Why

Key Points

• Jamf's stock reached a new 52-week low of $7.91, closing at $7.98 with a trading volume of 224,879 shares.
• Several analysts have downgraded their target prices for Jamf, with Morgan Stanley setting it at $14.00 and JPMorgan Chase & Co. at $12.00.
• Jamf reported an earnings miss of $0.08 EPS compared to the consensus estimate of $0.21 and had a revenue of $167.62 million for the last quarter.

Shares of Jamf Holding Corp. (NASDAQ:JAMF - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $7.91 and last traded at $7.98, with a volume of 224879 shares changing hands. The stock had previously closed at $8.28.

Analyst Upgrades and Downgrades

A number of research firms recently commented on JAMF. Morgan Stanley decreased their price objective on Jamf from $16.00 to $14.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Barclays decreased 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. JPMorgan Chase & Co. lowered their price target 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 lowered their price target on Jamf from $15.00 to $12.00 and set a "neutral" rating for the company in a report on Wednesday, July 16th. Finally, Needham & Company LLC lowered their price target on Jamf from $25.00 to $20.00 and set a "buy" rating for the company in a report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Jamf presently has a consensus rating of "Moderate Buy" and an average price target of $17.45.

Jamf Stock Down 6.8%

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 firm has a market capitalization of $975.84 million, a P/E ratio of -19.47, a P/E/G ratio of 1.40 and a beta of 0.36. The stock has a fifty day moving average price of $9.21 and a two-hundred day moving average price of $11.71.

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

Insider Buying and Selling

In related news, insider Elizabeth Benz sold 11,526 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $10.70, for a total transaction of $123,328.20. Following the completion of the transaction, the insider owned 347,249 shares in the company, valued at $3,715,564.30. The trade was a 3.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dean Hager sold 27,720 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $10.34, for a total value of $286,624.80. Following the transaction, the director owned 270,347 shares of the company's stock, valued at $2,795,387.98. This represents a 9.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,957 shares of company stock worth $755,361. 2.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sunriver Management LLC acquired a new position in Jamf during the 1st quarter worth $37,394,000. Palisade Capital Management LP acquired a new position in Jamf during the 1st quarter worth $7,567,000. Cubist Systematic Strategies LLC boosted its position in Jamf by 280.7% during the 1st quarter. Cubist Systematic Strategies LLC now owns 545,484 shares of the company's stock worth $6,628,000 after acquiring an additional 402,187 shares during the period. Marshall Wace LLP boosted its position 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 position in Jamf by 1,296.8% during the 2nd 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 during the period. 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.