Jamf Holding: Management Guidance Seems Too Conservative [Seeking Alpha]
Jamf Holding Corp. (JAMF)
Company Research
Source: Seeking Alpha
Operating metrics indicators like ARR and ARR per device suggest that demand for JAMF's products remains healthy. A potential macro recovery in the second half of 2024 could lead to faster growth than guided and drive up demand for JAMF. Overview I previously rated a buy rating for Jamf Holding Corp. ( NASDAQ: JAMF ) as I expected growth performance to remain strong despite the poor macroclimate. Since my post, the share price has rallied strongly to $21 (just $1 below my target price), but has now fallen back to ~$17 levels again. My recommendation for JAMF is still a buy rating, as I think the stock is embedding too much pessimism in the near term, which is mainly driven by management's overly conservative guidance. I expect the macro to turn for the better in 2H24, which should drive up demand for JAMF, leading to outperformance relative to guidance. Recent results & updates JAMF saw total revenue growth of 15.6%, with total recurring revenue up 17.5%, bringing total 4Q2
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JAMF
News
- Jamf to Report First Quarter 2024 Financial Results on May 8, 2024GlobeNewswire
- Jamf Event showcases product innovations aimed at helping organizations meet security and compliance needsGlobeNewswire
- Jamf Holding Corp. (NASDAQ: JAMF) had its price target raised by analysts at Barclays PLC from $18.00 to $20.00. They now have an "equal weight" rating on the stock.MarketBeat
- Jamf Holding Corp. (NASDAQ: JAMF) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $25.00 price target on the stock.MarketBeat
- Jamf Holding Corp. (NASDAQ: JAMF) had its "outperform" rating re-affirmed by analysts at Royal Bank of Canada. They now have a $21.00 price target on the stock.MarketBeat
JAMF
Earnings
- 2/27/24 - Beat
JAMF
Sec Filings
- 4/22/24 - Form 4
- 4/19/24 - Form ARS
- 4/19/24 - Form DEFA14A
- JAMF's page on the SEC website