Jamf Analysts Find Apple As A Significant Competitive Advantage; Hail Its Growth Alongside Players Like Microsoft

Author: Anusuya Lahiri | September 30, 2022 02:45pm

• Analysts attended the Jamf Holding Corp (NASDAQ:JAMF) Nation User Conference "JNUC" 2022 in San Diego, California. 
• Needham analyst Joshua Reilly reiterated a Buy and $35 price target.
• His highlights included robust industry demand, Apple Inc's (NASDAQ:AAPL) OS updates supporting BYOD adoption, Jamf's win alongside Microsoft Corp (NASDAQ:MSFT) versus legacy UEM vendors, and its next stage of product innovation likely centered around security offerings. 
• Additionally, the company updated its estimated TAM from $18 billion in 2020 to $35 billion today and provided customers and devices under management as of September 26, 2022. 
• Also Read: Mark Zuckerberg's Meta No Longer Among Top 10 Most-Valuable Companies: Who Overtook The Tech Giant?
• Mizuho analyst Gregg Moskowitz cut the price target on Jamf to $30 from $33 and kept a Buy rating. 
• Jamf highlighted a much larger total addressable market and was particularly bullish on its high-growth cybersecurity portfolio. 
• He viewed the acquisition of mobile security vendor ZecOps as complementary.
• The analyst expects hybrid work and school environments to continue to aid JAMF's growth. He believes JAMF's highly specialized approach to providing IT management capabilities for Apple remains a significant competitive advantage. 
• He lowered the price target to reflect a customer and device count that appear in line to slightly below his estimates and given the recent contraction in comp multiples.
• Price Action: JAMF shares traded higher by 0.27% at $22.82 on the last check Friday.

Posted In: AAPL JAMF MSFT