Jamf (NASDAQ:JAMF) Price Target Lowered to $19.00 at Royal Bank of Canada

Jamf (NASDAQ:JAMF) had its target price decreased by investment analysts at Royal Bank of Canada from $23.00 to $19.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 30.45% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Morgan Stanley began coverage on Jamf in a research note on Monday, October 14th. They issued an “equal weight” rating and a $20.00 price target on the stock. Barclays cut their price objective on Jamf from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. JMP Securities reissued a “market outperform” rating and set a $30.00 price objective on shares of Jamf in a report on Tuesday, October 1st. Piper Sandler cut their price objective on Jamf from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 target price on shares of Jamf in a report on Tuesday. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Jamf Stock Performance

Shares of NASDAQ JAMF traded up $0.17 during trading hours on Tuesday, reaching $14.57. 44,000 shares of the stock were exchanged, compared to its average volume of 543,632. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of -26.48, a P/E/G ratio of 0.99 and a beta of 0.37. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 0.95. Jamf has a 52 week low of $13.40 and a 52 week high of $21.41. The stock’s fifty day simple moving average is $14.66 and its 200 day simple moving average is $16.49.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Jamf by 6.0% in the 3rd quarter. Wellington Management Group LLP now owns 10,003,973 shares of the company’s stock valued at $173,569,000 after purchasing an additional 565,008 shares during the period. Dimensional Fund Advisors LP increased its position in Jamf by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,831,566 shares of the company’s stock valued at $30,216,000 after buying an additional 15,946 shares in the last quarter. Geode Capital Management LLC increased its position in Jamf by 8.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,751,340 shares of the company’s stock valued at $30,391,000 after buying an additional 134,314 shares in the last quarter. EVR Research LP increased its position in Jamf by 282.9% in the 2nd quarter. EVR Research LP now owns 1,570,000 shares of the company’s stock valued at $25,905,000 after buying an additional 1,160,000 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Jamf by 28.2% in the 3rd quarter. Principal Financial Group Inc. now owns 1,394,227 shares of the company’s stock valued at $24,190,000 after buying an additional 306,558 shares in the last quarter. 93.81% of the stock is owned by institutional investors and hedge funds.

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.