Joshua Reilly, an analyst from Needham, maintained the Buy rating on Jamf Holding. The associated price target remains the same with $20.00.
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Joshua Reilly has given his Buy rating due to a combination of factors including Jamf Holding’s impressive performance in the second quarter. The company reported its largest revenue beat in several years, driven by both its core business and the acquisition of Identity Automation. This indicates that the operational changes implemented by management over the past year are yielding positive results.
Additionally, the sequential acceleration in organic Annual Recurring Revenue (ARR) growth, which reached 9.4%, marks the first such increase in over three years. This growth is expected to continue as macroeconomic conditions improve and hiring picks up, offering further potential for ARR expansion. While international education markets showed robust performance, domestic education faced some budgetary constraints. However, the strength of iOS in commercial markets remains a significant advantage for Jamf Holding.
According to TipRanks, Reilly is a 3-star analyst with an average return of 2.3% and a 43.48% success rate. Reilly covers the Technology sector, focusing on stocks such as ZoomInfo Technologies, HubSpot, and Tyler Technologies.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $18.00 price target.