In a report released on February 28, Koji Ikeda from Bank of America Securities reiterated a Hold rating on Jamf Holding (JAMF – Research Report), with a price target of $18.00.
Koji Ikeda has given his Hold rating due to a combination of factors impacting Jamf Holding’s financial outlook. The company’s recent quarterly performance exceeded expectations, but its forecast for 2025 was less optimistic, with revenue and operating income projections falling short of consensus estimates. This discrepancy is partly due to a softened demand environment, influenced by economic constraints like layoffs and budget cuts, which have affected the company’s revenue growth targets.
Additionally, changes in the company’s product mix, particularly a higher contribution from mobile, have led to lower average selling prices, impacting annual recurring revenue. Despite these challenges, Jamf is aiming for a rule-of-40 profile by the end of 2026, which is a positive long-term target. However, given the current uncertainties and the need to reset achievable targets, Ikeda maintains a Neutral stance, adjusting the price objective to $18 to reflect the mixed results and revised forecasts.
In another report released on February 28, Barclays also maintained a Hold rating on the stock with a $16.00 price target.
JAMF’s price has also changed moderately for the past six months – from $18.340 to $13.680, which is a -25.41% drop .