Mizuho maintains Outperform rating on Jamf stock with $18 target

Tuesday, Mizuho (NYSE:MFG) analysts reiterated their Outperform rating on Jamf Holding Corp. (NASDAQ:JAMF) shares, maintaining a price target of $18.00. Currently trading at $13.76, the stock shows potential upside according to InvestingPro analysis, with analyst targets ranging from $16 to $27. The affirmation comes as Jamf announced the acquisition of Identity Automation for approximately $215 million. This move is seen as both complementary and strategic, enhancing Jamf’s cybersecurity offerings.

Jamf Holding Corp., known for its IT management and security solutions for Apple (NASDAQ:AAPL) devices, confirmed its purchase of Identity Automation, a vendor specializing in Identity and Access Management (IAM), on Monday. With a market capitalization of $1.78 billion and impressive revenue growth of 11.92% in the last twelve months, Mizuho views this acquisition as a strategic extension of Jamf’s cybersecurity portfolio and anticipates potential benefits from cross-selling and upselling opportunities.

Management at Jamf expects the acquisition to have an immediate positive impact on the company’s revenue and non-GAAP operating income. The acquisition is aligned with Jamf’s growth strategy and is seen to strengthen its competitive position in the market.

Despite facing macroeconomic challenges, Jamf’s business continues to hold a unique competitive edge in the market, according to Mizuho. The firm’s analysts highlight Jamf’s trading position at 2.2 times the calendar year 2026 estimated Enterprise Value to Annual Recurring Revenue (EV/ARR), suggesting a positive outlook for the company’s financial performance.

In summary, Mizuho’s analysts remain optimistic about Jamf’s market position and future financial prospects, reflected in the reiterated Outperform rating and $18.00 price target for the company’s stock.

In other recent news, Jamf has announced its acquisition of Identity Automation for approximately $215 million in cash. This strategic move is expected to enhance Jamf’s security offerings by integrating Identity Automation’s identity and access management capabilities. The transaction is anticipated to close by the end of the second quarter of fiscal year 2025. Meanwhile, Jamf’s recent financial results showed a mixed performance. The company reported a non-GAAP EPS of $0.17, surpassing the consensus estimate, and a total revenue of approximately $163.0 million, which marked an 8% year-over-year growth. However, the annual recurring revenue growth of 10% fell short of the anticipated 11%.

Mizuho Securities adjusted its price target for Jamf to $18, down from $20, while maintaining an Outperform rating, citing a slight shortfall in annual recurring revenue. Similarly, JMP Securities revised their price target to $27 from $30 but also maintained an Outperform rating. JPMorgan initiated coverage with an Overweight rating and a price target of $20, highlighting Jamf’s potential to capitalize on the growing use of Apple devices within enterprises. Additionally, Jamf’s Jamf Pro and Jamf School products have achieved StateRAMP Authorized status, meeting high-security compliance requirements for state and local governments and educational institutions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.