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Investing.com - Needham maintained its Buy rating and $20.00 price target on Jamf Holding Corp. (NASDAQ:JAMF) following the firm’s attendance at Jamf’s customer conference in Denver. The target represents significant upside from the current price of $10.50, with InvestingPro analysis indicating the stock is currently undervalued.
The research firm highlighted an accelerating pace of product innovation and simplification at the Apple enterprise management company. Needham specifically pointed to Platform APIs as an example of innovation that simplifies the developer environment and encourages more technology partners to build on the Jamf platform.
Customer and partner conversations indicated an improved demand environment compared to a year ago, according to Needham’s analysis. The firm also noted that Jamf’s competitive position has strengthened in the market. This aligns with the company’s solid fundamentals, including an impressive 79% gross profit margin and 11% revenue growth in the last twelve months.
Needham believes Jamf is executing at a high level on both sales and product strategy, with additional optimization expected for the company’s financial model.
The research firm identified Platform SSO Simplified Setup as a key item to monitor, noting its potential to drive greater adoption while possibly creating a headwind for Connect revenues.
In other recent news, Jamf reported its second-quarter earnings for 2025, achieving non-GAAP earnings per share of $0.18, in line with consensus expectations. The company also posted a non-GAAP operating income of $33.5 million, surpassing the consensus estimate of $30.0 million, which reflects a 19% margin on total revenue. Additionally, Jamf announced a 50% year-over-year increase in partner-driven deal registrations, attributing over 60% of its total annual recurring revenue to these partnerships. The company’s Global Partner Program, launched in August 2024, has more than doubled its partner count, enhancing deal registration processes and offering partners real-time insights.
In other developments, Jamf has been included in the Microsoft Security Store Partner Ecosystem, a move based on its expertise with Microsoft Security technologies and its collaborative relationship with Microsoft. The company also unveiled a new Platform API ecosystem at its annual Jamf Nation User Conference, aimed at providing developers and IT teams with advanced tools for managing Apple devices. Analyst firm JMP Securities reiterated its Market Outperform rating for Jamf, highlighting its strong position in enterprise Apple management and security solutions. However, Citizens JMP lowered its price target for Jamf to $18.00 from $27.00, citing mixed second-quarter results while maintaining a Market Outperform rating.
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