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Jamf Holding (JAMF)
NASDAQ:JAMF
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Jamf Holding
(NASDAQ:JAMF)
65Neutral
Positive Factors
Acquisition Impact
The acquisition of Identity Automation is seen as complementary and strategic, enhancing JAMF's cybersecurity portfolio.
Partnership Growth
Jamf's new global partner program is showing promising early traction with partner-led deal registrations up 50% year-over-year.
Product Expansion
Jamf launched two new platform solutions, Jamf for Mac and Jamf for K-12, which should help simplify procurement and remove barriers for broader platform adoption.
Negative Factors
Competition and Dependency
Risks to the thesis include the company’s reliance on Apple, competition, and execution on Jamf’s expansion into the security space.
Macroeconomic Challenges
JAMF's business remains constrained by macro-related challenges.
Jamf Holding (JAMF) vs. S&P 500 (SPY)
Market Cap
$1.52B
Dividend YieldN/A
Average Volume (3M)853.80K
Price to Earnings (P/E)―
Beta (1Y)1.13
Revenue Growth10.75%
EPS Growth56.37%
CountryUS
Employees2,595
SectorTechnology
Sector Strength76
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.22
Shares Outstanding131,864,700
10 Day Avg. Volume885,149
30 Day Avg. Volume853,800
Financial Highlights & Ratios
PEG Ratio-13.49
Price to Book (P/B)2.35
Price to Sales (P/S)0.00
P/FCF Ratio81.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$18.30Price Target Upside59.13% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering11
Jamf Holding Business Overview & Revenue Model
Company DescriptionJamf Holding Corp. is a leader in Apple Enterprise Management, providing comprehensive solutions for organizations to deploy, manage, and secure Apple devices. Operating primarily in the software and technology sector, Jamf develops products that enable IT professionals to seamlessly manage Mac, iPad, iPhone, and Apple TV devices. Their core offerings include Jamf Pro, Jamf Now, Jamf School, and Jamf Connect, which are designed to enhance the Apple user experience in business, education, and government settings.
How the Company Makes MoneyJamf Holding Corp. generates revenue through a subscription-based model, where customers pay for access to its software solutions and services. The company's key revenue streams include subscriptions for Jamf Pro and other software products, which provide features such as device management, security, and identity management. Jamf also earns income from professional services, including training and support, which help organizations implement and optimize their use of Jamf solutions. Strategic partnerships with Apple and other technology companies enhance Jamf's offerings and market reach, thereby contributing to its earnings.
Jamf Holding Financial Statement Overview
Summary
Jamf Holding shows strong revenue growth and healthy gross profit margins, but ongoing net losses and negative profit margins indicate operational challenges. The balance sheet reflects moderate leverage, and while cash flow from operations is positive, overall free cash flow is declining.Income Statement
Jamf Holding's revenue growth has been strong, with a 12% increase from 2023 to 2024. The gross profit margin is healthy at 77.5% in 2024, reflecting good cost management. However, the company remains unprofitable with a negative net profit margin of -10.9% and EBIT margin of -11%, indicating ongoing operational challenges.72
Positive
Balance Sheet
The company's equity ratio is reasonable at 45.3%, indicating a balanced approach to financing. However, the debt-to-equity ratio is 0.52, showing moderate leverage. The return on equity remains negative due to continued net losses, posing a risk to shareholder returns.65
Positive
Cash Flow
Jamf Holding shows a positive operating cash flow to net income ratio, suggesting good cash generation relative to net losses. However, the free cash flow has decreased year-over-year, and the free cash flow to net income ratio is positive but constrained by the negative net income.68
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 423.32M | 627.40M | 560.57M | 478.78M | 366.39M | 269.13M | Gross Profit |
| 311.94M | 486.07M | 434.51M | 359.55M | 276.03M | 208.12M | EBIT |
| -141.53M | -69.10M | -115.25M | -138.87M | -76.20M | -17.36M | EBITDA |
| -64.74M | -69.10M | -64.95M | -84.04M | -29.13M | 23.17M | Net Income Common Stockholders |
| -142.90M | -68.45M | -110.09M | -141.30M | -75.19M | -24.08M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 224.68M | 224.68M | 243.58M | 224.34M | 177.15M | 194.87M | Total Assets |
| 1.58B | 1.58B | 1.59B | 1.53B | 1.48B | 1.07B | Total Debt |
| 369.51M | 369.51M | 367.00M | 364.50M | 362.03M | 0.00 | Net Debt |
| 144.83M | 144.83M | 123.42M | 140.17M | 184.88M | -194.87M | Total Liabilities |
| 864.25M | 864.25M | 872.11M | 828.20M | 741.99M | 263.27M | Stockholders Equity |
| 715.98M | 715.98M | 717.55M | 701.34M | 738.43M | 811.01M |
| Cash Flow | Free Cash Flow | ||||
| 36.06M | 22.18M | 33.03M | 82.28M | 55.41M | 48.43M | Operating Cash Flow |
| 43.48M | 31.19M | 35.96M | 90.00M | 65.17M | 52.80M | Investing Cash Flow |
| -386.17M | -11.80M | -22.48M | -34.78M | -387.42M | -6.88M | Financing Cash Flow |
| 300.07M | -41.60M | 5.32M | 261.00K | 305.53M | 115.96M |
Jamf Holding Technical Analysis
Negative
11.50
Price Trends
11.89
Negative
13.31
Negative
14.98
Negative
Market Momentum
-0.10
Negative
42.80
Neutral
37.27
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JAMF, the sentiment is Negative. The current price of 11.5 is above the 20-day moving average (MA) of 11.41, below the 50-day MA of 11.89, and below the 200-day MA of 14.98, indicating a bearish trend. The MACD of -0.10 indicates Negative momentum. The RSI at 42.80 is Neutral, neither overbought nor oversold. The STOCH value of 37.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JAMF.
Jamf Holding Risk Analysis
Jamf Holding disclosed 69 risk factors in its most recent earnings report. Jamf Holding reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Jamf Holding Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $1.90B | 22.38 | 30.24% | 1.86% | 3.08% | 34.87% | |
71 Outperform | $1.61B | 19.56 | 12.21% | 1.11% | 3.51% | 18.34% | |
70 Outperform | $1.89B | ― | -3.09% | ― | -1.96% | 19.43% | |
68 Neutral | $1.57B | 95.29 | 2.20% | ― | 7.98% | -40.59% | |
65 Neutral | $1.52B | ― | -6.48% | ― | 10.75% | 56.37% | |
62 Neutral | $2.01B | 1,172.29 | 0.27% | ― | 10.46% | ― | |
60 Neutral | $11.59B | 10.39 | -7.23% | 2.94% | 7.46% | -10.76% |
* Technology Sector Average
Performance Comparison
JAMF
Jamf Holding
11.11
-6.95
-38.48%
CSGS
CSG Systems International
64.73
23.01
55.15%
FORTY
Formula Systems
106.90
23.91
28.81%
EVCM
EverCommerce
10.11
-0.75
-6.91%
NABL
N-able
8.05
-4.52
-35.96%
AVDX
AvidXchange Holdings
9.72
-1.46
-13.06%
Jamf Holding Earnings Call Summary
Earnings Call Date:May 06, 2025
(Q1-2025)
| % Change Since: 1.23%|
Next Earnings Date:Aug 12, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong revenue growth, successful launches of new solutions, and a strategic acquisition, which outweighed concerns about FX impacts and seasonality issues.Q1-2025 Updates
Positive Updates
Year-over-Year Revenue Growth
Jamf achieved a year-over-year revenue growth of 10%, exceeding the high end of their outlook for both revenue and non-GAAP operating income margin.
Growth in Security ARR
Security bookings were strong, driving 17% year-over-year growth in Security ARR to $162 million, supported by the launch of new platform solutions.
Successful Launch of New Solutions
The launch of Jamf for Mac and Jamf for K-12 in early March was successful, contributing to strong education performance and security ARR growth.
Acquisition of Identity Automation
Jamf acquired Identity Automation, gaining almost 90 employees and expanding their identity management for mobile, especially in K-12 education.
Channel Partner Program Success
Jamf's global partner program resulted in deal registration growth of nearly 50% year-over-year and more than 25% growth in new partners.
Negative Updates
Impact of FX on Operating Income
Jamf is experiencing headwinds of about $2 million to $3 million for the remainder of the year due to weakening USD and growing international expenses.
Seasonality in Identity Automation
The Identity Automation acquisition has seasonality with ARR and revenue, with higher levels in the second half of the year, affecting revenue predictability.
Company Guidance
In the first quarter of 2025, Jamf reported solid financial results, highlighted by a 10% year-over-year revenue growth and a 22% non-GAAP operating income margin, both exceeding their outlook. Total Annual Recurring Revenue (ARR) increased by 9% to $658 million, with security ARR showing a notable 17% year-over-year growth to reach $162 million. The company launched two new platform solutions—Jamf for Mac and Jamf for K-12—which contributed to strong new logo bookings and were instrumental in driving higher ARR per customer. These solutions, along with the recent acquisition of Identity Automation, a dynamic identity and access management platform, are expected to enhance Jamf's offerings, particularly in education and mobile-centric industries. For the full year, Jamf maintained its revenue guidance of $691 million to $695 million, reflecting a 10.5% growth at the midpoint, and forecasted a non-GAAP operating margin of 21%, marking a 500 basis point improvement over fiscal 2024.Jamf Holding Corporate Events
Executive/Board ChangesShareholder Meetings
Jamf Holding Announces Director Departures
Neutral
Apr 29, 2025
On April 25, 2025, Jamf Holding Corp. announced that board members Virginia Gambale and Charles Guan will not stand for re-election at the upcoming annual general meeting on June 10, 2025. Both directors will serve until the meeting, and their decisions are not due to any disagreements with the company.
Spark’s Take on JAMF Stock
According to Spark, TipRanks’ AI Analyst, JAMF is a Neutral.
Jamf Holding shows significant potential in the software industry, supported by strong revenue growth and a robust outlook from recent earnings call insights. However, the company’s persistent net losses and negative profit margins, coupled with a bearish technical trend, pose notable risks. The negative P/E ratio and lack of dividend yield further detract from its attractiveness. Strategic improvements in profitability and cash flow sustainability are necessary to enhance its stock performance.
To see Spark’s full report on JAMF stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.