William Blair analyst Jake Roberge has maintained their bullish stance on JAMF stock, giving a Buy rating today.
Jake Roberge has given his Buy rating due to a combination of factors involving Jamf Holding’s recent financial performance and strategic positioning. Despite the conservative revenue guidance for 2024, which reflects caution due to potential device renewal headwinds and longer sales cycles in the tech and education sectors, Roberge sees underlying strength in the company’s operations. Jamf’s security solutions segment has experienced substantial growth with a 33% increase in ARR, now accounting for a significant portion of the company’s total ARR. Furthermore, the company has outperformed expectations with strong operating margin guidance, suggesting efficient management and promising profitability.
In addition to financial metrics, Roberge’s optimism is bolstered by Jamf’s consistent close rates and churn profile, which have remained stable despite sector pressures. The company has also shown notable traction in other sectors like professional services, healthcare, and retail, indicating diversification and resilience. Lastly, Roberge is encouraged by Jamf’s proactive plan to reach a Rule-of-40 financial profile by the end of 2025, which combines growth and profitability targets. This strategic direction, along with the company’s positive indicators in commercial and security growth drivers, underpins the confidence in Jamf Holding’s long-term potential, meriting a Buy rating from the analyst.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $30.00 price target.
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Jamf Holding (JAMF) Company Description:
Jamf Holding Corp is the standard in Apple Enterprise Management, and its cloud software platform is the vertically focused Apple infrastructure and security platform. The company helps organizations, including businesses, hospitals, schools and government agencies, connect, manage and protect Apple products, apps and corporate resources in the cloud without ever having to touch the devices. It sells its Software-as-a-Service, or SaaS, solutions via a subscription model, through a direct sales force, online and indirectly via its channel partners, including Apple. The company operates in The Americas; Europe, the Middle East, India, and Africa; and Asia Pacific.
Read More on JAMF:
- Jamf Announces Fourth Quarter and Fiscal Year 2023 Financial Results
- JAMF Upcoming Earnings Report: What to Expect?
- Jamf announces ‘immediate support’ for Apple Vision Pro
- Jamf announces immediate support for Apple Vision Pro, allowing customers to confidently and securely explore new ways of working
- Jamf Holding Announces Costly Workforce Reduction Plan
