Jamf stock rating downgraded to Market Perform by Citizens

Investing.com - Citizens downgraded Jamf Holding Corp. (NASDAQ:JAMF) from Market Outperform to Market Perform on Wednesday. The stock is currently trading at $12.97, with a market capitalization of $1.73 billion and an overall "GOOD" Financial Health score according to InvestingPro.

The downgrade follows Citizens’ review of the Background of the Merger in the Proxy Statement filed with the SEC on Friday, November 28, 2025. The document revealed that 16 parties examined the potential acquisition, including six strategic buyers and ten financial sponsors.

Jamf previously entered into a definitive agreement to be acquired by Francisco Partners for $13.05 per share. Citizens believes this agreement is likely to be completed without additional bidders entering the process.

The firm noted that Jamf stock has decreased 8% year to date, underperforming compared to the Russell 3000 index, which has increased approximately 15% during the same period.

Citizens analyst Patrick Walravens issued the downgrade based on these factors, shifting the firm’s outlook on the stock from its previous more positive stance.

In other recent news, Jamf reported strong third-quarter 2025 results, with non-GAAP earnings per share of $0.25, surpassing the consensus estimate of $0.23. The company also reported a non-GAAP operating income of $47 million, exceeding the expected $42 million, with total revenue reaching $183 million, up 15% year-over-year. Francisco Partners has entered into a definitive agreement to acquire Jamf for $13.05 per share, valuing the company at approximately $2.2 billion. This acquisition price represents a 50% premium over Jamf’s volume-weighted average closing share price for the 90 days prior to September 11, 2025.

Additionally, Jamf’s RapidIdentity platform secured a five-year contract with Ohio’s Inter-University Council Purchasing Group, making it one of two vetted platforms available to 86 member institutions. In response to these developments, Citizens has reiterated its Market Outperform rating on Jamf, maintaining an $18.00 price target. Furthermore, Jamf announced a strategic partnership with UberEther to pursue FedRAMP High and Department of Defense Impact Level 5 authorization. This collaboration aims to enhance Jamf’s capability to meet federal security requirements, enabling service to U.S. public sector and commercial organizations handling sensitive data.

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