Jamf (NASDAQ:JAMF) Shares Gap Up Following Better-Than-Expected 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 share price gapped up prior to trading on Friday following a stronger than expected earnings report. 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 trading hands.

The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $176.50 million for the quarter, compared to analyst estimates of $168.58 million. Jamf had a negative net margin of 7.36% and a positive return on equity of 3.07%. Jamf's revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS.

Analysts Set New Price Targets

JAMF has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Jamf from $15.00 to $12.00 and set an "overweight" rating on the stock in a research note on Thursday, July 17th. Barclays dropped their price target on shares of Jamf from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, July 21st. Canaccord Genuity Group decreased their price objective on shares of Jamf from $19.00 to $15.00 and set a "buy" rating on the stock in a report on Friday. Mizuho decreased their price objective on shares of Jamf from $15.00 to $13.00 and set an "outperform" rating on the stock in a report on Wednesday, July 16th. Finally, Bank of America decreased their price objective on shares of Jamf from $15.00 to $12.00 and set a "neutral" rating on the stock in a report on Wednesday, July 16th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.09.

Insider Activity at Jamf

In other news, Director Dean Hager sold 27,720 shares of the firm'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 $286,624.80. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Strosahl sold 16,125 shares of Jamf stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $10.75, for a total transaction of $173,343.75. Following the completion of the sale, the chief executive officer owned 1,524,101 shares in the company, valued at approximately $16,384,085.75. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,957 shares of company stock valued at $755,361 in the last 90 days. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Jamf

Several hedge funds have recently bought and sold shares of the company. Creative Planning bought a new stake in Jamf in the 2nd quarter valued at about $101,000. Campbell & CO Investment Adviser LLC increased its stake in Jamf by 54.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 125,005 shares of the company's stock valued at $1,189,000 after buying an additional 43,975 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Jamf by 55.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 450,129 shares of the company's stock valued at $4,281,000 after buying an additional 161,059 shares during the period. Fox Run Management L.L.C. increased its stake in Jamf by 6.7% during the 2nd quarter. Fox Run Management L.L.C. now owns 29,541 shares of the company's stock valued at $281,000 after buying an additional 1,854 shares during the period. Finally, Savant Capital LLC acquired a new position in Jamf during the 2nd quarter valued at about $97,000. 93.81% of the stock is currently owned by institutional investors.

Jamf Stock Performance

The stock has a market cap of $1.04 billion, a price-to-earnings ratio of -20.28, a PEG ratio of 1.39 and a beta of 0.36. 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 company's 50 day simple moving average is $8.91 and its 200 day simple moving average is $11.45.

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.