Canaccord Genuity Group Boosts Jamf (NASDAQ:JAMF) Price Target to $24.00

Jamf (NASDAQ:JAMF) had its price target hoisted by equities researchers at Canaccord Genuity Group from $22.00 to $24.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 20.30% from the company’s current price.

JAMF has been the subject of several other research reports. Royal Bank of Canada lifted their price target on shares of Jamf from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays upped their target price on Jamf from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. Mizuho upped their price objective on shares of Jamf from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC reissued a “buy” rating and set a $25.00 target price on shares of Jamf in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.14.

Jamf Price Performance

Shares of JAMF stock traded up $0.24 on Thursday, reaching $19.95. The company’s stock had a trading volume of 738,397 shares, compared to its average volume of 421,849. The stock’s fifty day simple moving average is $18.45 and its 200-day simple moving average is $18.17. Jamf has a 1 year low of $14.83 and a 1 year high of $22.89. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -22.15 and a beta of 0.47. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Jamf (NASDAQ:JAMF) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04. Jamf had a negative return on equity of 6.12% and a negative net margin of 19.64%. The company had revenue of $152.12 million during the quarter, compared to analyst estimates of $149.21 million. During the same quarter last year, the business posted ($0.08) earnings per share. The firm’s revenue was up 15.1% on a year-over-year basis. Analysts forecast that Jamf will post -0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Jason Wudi sold 33,830 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $17.89, for a total value of $605,218.70. Following the completion of the sale, the insider now owns 378,276 shares of the company’s stock, valued at approximately $6,767,357.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jason Wudi sold 33,830 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $17.89, for a total transaction of $605,218.70. Following the sale, the insider now directly owns 378,276 shares of the company’s stock, valued at $6,767,357.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dean Hager sold 73,730 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $17.76, for a total value of $1,309,444.80. Following the completion of the transaction, the director now owns 385,665 shares of the company’s stock, valued at approximately $6,849,410.40. The disclosure for this sale can be found here. Insiders sold a total of 239,323 shares of company stock worth $4,393,336 in the last 90 days. 2.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Jamf by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,188,675 shares of the company’s stock valued at $126,952,000 after purchasing an additional 130,500 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of Jamf by 36.9% in the fourth quarter. Nordea Investment Management AB now owns 182,194 shares of the company’s stock valued at $3,316,000 after purchasing an additional 49,120 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Jamf by 12.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 444,538 shares of the company’s stock worth $7,851,000 after purchasing an additional 49,252 shares during the period. Clearbridge Investments LLC increased its stake in Jamf by 6.0% during the third quarter. Clearbridge Investments LLC now owns 2,058,012 shares of the company’s stock worth $36,344,000 after acquiring an additional 115,808 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in Jamf during the fourth quarter worth about $163,000. Hedge funds and other institutional investors 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.