Apps & Software

Wall Street Sees, Jamf, an Apple Enterprise Play, Headed Higher

Jamf Holding Corp. (NASDAQ: JAMF) only came public over the summer, and analysts are starting to get hyped for this company. The quiet period is over now, so a slew of analyst calls are coming in for this stock.

The underwriters for the offering were Goldman Sachs, JPMorgan, BofA Securities, Barclays, RBC Capital Markets, Mizuho Securities, HSBC, Canaccord Genuity, JMP Securities, Piper Sandler, William Blair, Loop Capital Markets and CastleOak Securities. Now with the quiet period over, the calls are coming in.

Note that this is the standard in Apple Enterprise Management, and its cloud software platform is the only vertically focused Apple infrastructure and security platform of scale in the world.

Basically, Jamf 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.

In terms of the offering, the company sold 20.7 million shares of common stock at $26 apiece, with an overallotment option of 2.7 million shares. However, shares actually entered the market well above the original pricing, at $46, and they hit a high that day of $51. Shares have fallen off since then.

Analysts were quick to rescue the stock after its slow post-IPO decline. Here’s what analysts are saying:

  • JPMorgan initiated coverage with an Overweight rating and a $55 price target.
  • Goldman Sachs initiated coverage with a Buy rating and a $44 target price.
  • Barclays initiated coverage with an Equal Weight rating and a $40 price target.
  • JMP Securities initiated it as Market Perform with a $43 target price.
  • RBC initiated coverage with an Outperform rating and a $43 price target.
  • Mizuho initiated coverage at Buy with a $43 target price.
  • Canaccord Genuity initiated it with a Buy rating and a $45 price target.
  • Piper Sandler initiated coverage at Overweight rating with a $65 price target.

Jamf stock was last seen up about 6% at $37.79, in a post-IPO range of $35.50 to $51.00.