Jamf (NASDAQ:JAMF) Announces Earnings Results, Beats Estimates By $0.04 EPS

Jamf (NASDAQ:JAMF) issued its quarterly earnings results on Wednesday. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04, Briefing.com reports. Jamf had a negative net margin of 19.64% and a negative return on equity of 6.12%. The business had revenue of $152.12 million for the quarter, compared to analysts’ expectations of $149.21 million. During the same quarter in the prior year, the company earned ($0.08) earnings per share. The business’s quarterly revenue was up 15.1% on a year-over-year basis. Jamf updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Jamf Stock Performance

NASDAQ:JAMF traded up $0.24 during trading hours on Thursday, reaching $19.95. 738,399 shares of the company’s stock were exchanged, compared to its average volume of 421,849. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -22.15 and a beta of 0.47. The company has a 50-day moving average of $18.45 and a 200 day moving average of $18.17. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.51. Jamf has a 1-year low of $14.83 and a 1-year high of $22.89.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Jamf from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday. Mizuho upped their target price on shares of Jamf from $21.00 to $22.00 and gave the company a “buy” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $25.00 target price on shares of Jamf in a report on Thursday. Canaccord Genuity Group upped their target price on shares of Jamf from $22.00 to $24.00 and gave the company a “buy” rating in a report on Thursday. Finally, Barclays upped their target price on shares of Jamf from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.14.

Insider Buying and Selling

In related news, insider Beth Tschida sold 7,526 shares of the stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $18.27, for a total transaction of $137,500.02. Following the completion of the sale, the insider now owns 340,422 shares in the company, valued at approximately $6,219,509.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Beth Tschida sold 7,526 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $18.27, for a total value of $137,500.02. Following the completion of the sale, the insider now owns 340,422 shares in the company, valued at approximately $6,219,509.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jason Wudi sold 33,830 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $17.89, for a total transaction of $605,218.70. Following the completion of the sale, the insider now owns 378,276 shares of the company’s stock, valued at approximately $6,767,357.64. The disclosure for this sale can be found here. Insiders sold a total of 239,323 shares of company stock worth $4,393,336 in the last 90 days. Company insiders own 2.30% of the company’s stock.

About Jamf

Jamf Holding Corp. offers a cloud software platform for Apple infrastructure and security platform in the Americas, Europe, the Middle East, India, and Africa. Its products include Jamf Pro, an Apple ecosystem management software solution for IT environments; Jamf Now, a pay-as-you-go Apple device management software solution for small-to-medium-sized businesses; Jamf School, an apple mobile device management for schools; and Jamf Connect, a ZTNA solution that replaces legacy conditional access and VPN technology.