Needham analyst Joshua Reilly lowered the firm’s price target on Jamf Holding (JAMF) to $20 from $25 and keeps a Buy rating on the shares. The company has recently announced a strategic reallocation of investments including a 6.4% reduction in force, reallocating resources to focus more on the enterprise market and AI investments, driving the firm’s price target cut, the analyst tells investors in a research note. Servicing SMB clients has become too expensive relative to the customer lifetime value, and more automation is needed to drive productivity, the firm added.
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