Jamf Holding: Balancing Growth Potential with Market Uncertainties

In a report released today, Koji Ikeda from Bank of America Securities maintained a Hold rating on Jamf Holding (JAMF – Research Report), with a price target of $15.00.

Koji Ikeda has given his Hold rating due to a combination of factors related to Jamf Holding’s current market position and growth prospects. The company shows potential for achieving the Rule-of-40, a metric combining revenue growth and free cash flow margin, by 2026. However, some of its key growth metrics, such as annual recurring revenue, are currently decelerating, leading to a balanced risk/reward scenario until there’s more certainty about reaccelerating growth.
While Jamf is seeing stable demand in the tech sector and good demand in healthcare and financial services, the acceleration of layoffs in the tech industry could hinder recovery. The company is also expanding its international presence and adding Android device management features, which could increase its total addressable market. Despite these positive developments, the guidance remains conservative, and the uncertain demand environment suggests maintaining a neutral stance is prudent at this time.

In another report released on May 12, Barclays also maintained a Hold rating on the stock with a $15.00 price target.

Based on the recent corporate insider activity of 44 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of JAMF in relation to earlier this year.