Needham analyst Joshua Reilly maintained a Buy rating on Jamf Holding (JAMF – Research Report) today and set a price target of $25.00.
Joshua Reilly has given his Buy rating due to a combination of factors including Jamf Holding’s impressive financial performance and future growth prospects. The company reported strong fourth-quarter results with a notable annual recurring revenue (ARR) growth of 9.8% year-over-year, despite facing macroeconomic challenges. This resilience is further supported by their initial guidance for the year, which indicates an 8% year-over-year revenue growth, suggesting a stable business trajectory.
Furthermore, management anticipates that net revenue retention (NRR) will reach its lowest point in the first half of fiscal year 2025, with the potential to accelerate in the latter half of the year, assuming macroeconomic conditions stabilize. This potential for re-acceleration indicates opportunities for significant growth. Additionally, the projected increase in unlevered free cash flow (uFCF) to $126 million, representing a 75% year-over-year rise, highlights the company’s strong financial health and operational efficiency, justifying the Buy rating.
According to TipRanks, Reilly is a 4-star analyst with an average return of 4.8% and a 45.37% success rate. Reilly covers the Technology sector, focusing on stocks such as Verint Systems, Tyler Technologies, and Paycom.
In another report released today, JMP Securities also maintained a Buy rating on the stock with a $27.00 price target.
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