Jamf (NASDAQ:JAMF) Shares Gap Up After Strong Earnings

Key Points

• Jamf Holdings Corp. shares experienced a significant price increase, opening at $8.51 after closing at $7.33, following an earnings report that beat analysts' expectations with an EPS of $0.18.
• The company's revenue for the quarter was reported at $176.50 million, exceeding analyst estimates and marking a 15.4% increase compared to the previous year.
• Despite recent positive performance, several brokerages have downgraded their target prices for Jamf, with an average rating of "Moderate Buy" and a target price of $17.45.

Jamf Holding Corp. (NASDAQ:JAMF - Get Free Report)'s stock price gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $7.33, but opened at $8.51. Jamf shares last traded at $8.49, with a volume of 824,808 shares changing hands.

The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. The firm had revenue of $176.50 million during the quarter, compared to analyst estimates of $168.58 million. Jamf had a negative net margin of 7.36% and a positive return on equity of 3.07%. The business's revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 earnings per share.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Jamf from $15.00 to $10.00 and set an "equal weight" rating for the company in a research note on Monday, July 21st. Mizuho set a $12.00 price objective on shares of Jamf in a research note on Friday. Canaccord Genuity Group lowered their price objective on shares of Jamf from $19.00 to $15.00 and set a "buy" rating for the company in a research note on Friday. Needham & Company LLC lowered their price objective 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. Finally, JMP Securities lowered their price objective on shares of Jamf from $27.00 to $18.00 and set a "market outperform" rating for the company in a research note on Friday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

Insider Activity

In other Jamf news, CEO John Strosahl sold 16,125 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.75, for a total value of $173,343.75. Following the completion of the transaction, the chief executive officer directly owned 1,524,101 shares in the company, valued at approximately $16,384,085.75. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Elizabeth Benz sold 11,526 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $10.70, for a total transaction of $123,328.20. Following the transaction, the insider owned 347,249 shares in the company, valued at approximately $3,715,564.30. This trade represents a 3.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,957 shares of company stock valued at $755,361. Company insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Jamf

Several hedge funds have recently modified their holdings of JAMF. Oppenheimer Asset Management Inc. acquired a new stake in shares of Jamf during the 1st quarter worth approximately $126,000. Cetera Investment Advisers acquired a new stake in shares of Jamf during the 4th quarter worth approximately $145,000. SG Americas Securities LLC grew its stake in shares of Jamf by 97.6% during 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 stake in shares of Jamf during the 4th quarter worth approximately $931,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Jamf during the 4th quarter worth approximately $158,000. Institutional investors and hedge funds own 93.81% of the company's stock.

Jamf Stock Up 3.5%

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -21.07, a PEG ratio of 1.40 and a beta of 0.36. The business's 50 day moving average price is $8.86 and its 200 day moving average price is $11.38. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.08 and a current ratio of 1.08.

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.