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

Analysts attended the Jamf Holding Corp (NASDAQ: JAMF) Nation User Conference "JNUC" 2022 in San Diego, California. 
  • 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 ReadMark 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.
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