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MINNEAPOLIS, April 29, 2025 – Jamf Holding Corp. (NASDAQ:JAMF), a leader in prepackaged software services with a market capitalization of $1.52 billion and annual revenue of $627.4 million, announced upcoming changes to its board of directors. According to InvestingPro data, the company has maintained solid revenue growth of ~12% over the past year. Virginia Gambale and Charles Guan, both current board members, have decided not to stand for re-election at the company’s annual general meeting scheduled for June 10, 2025.
Gambale, who also serves on the Audit Committee, will continue her duties until the annual meeting. Her decision to leave the board is not due to any disagreements with the company, as confirmed by the correspondence filed with her resignation letter. Similarly, Guan will maintain his role as a director until the annual meeting, and his departure also does not stem from any conflict with the company, as indicated in his resignation letter.
The filings, part of a Form 8-K submitted to the U.S. Securities and Exchange Commission, did not detail the reasons behind the directors’ decisions or announce any potential successors. The company’s headquarters in Minneapolis, Minnesota, remains the central hub for its operations.
Investors and stakeholders are keeping a close eye on these developments as the board’s composition can influence a company’s strategic direction. The departure of two directors may prompt discussions on potential impacts on governance and oversight within Jamf Holding Corp., particularly with the company’s next earnings report scheduled for May 6, 2025. For deeper insights into Jamf’s governance structure and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro.
The information regarding these board changes is based on the latest 8-K filing by Jamf Holding Corp. with the SEC. The company has not provided any further statements or details about the upcoming board elections or any other strategic changes that may follow.
In other recent news, Jamf Holding Corp. has announced plans to acquire Identity Automation for approximately $215 million in cash. This acquisition is expected to close by the end of the second quarter of fiscal year 2025 and aims to enhance Jamf’s cybersecurity offerings by integrating Identity Automation’s identity and access management capabilities. Analysts from Needham have maintained a Buy rating with a $25 price target, viewing the acquisition as a strategic move that could positively impact revenue growth and operating income. On the other hand, JPMorgan has adjusted its price target for Jamf to $18 from $20, citing a more cautious outlook on revenue growth for 2025, despite retaining an Overweight rating.
Mizuho (NYSE:MFG) has also maintained its Outperform rating on Jamf, setting a price target of $18, following the acquisition announcement. They see this move as a strategic extension to Jamf’s existing portfolio, potentially benefiting from cross-selling opportunities. Jamf’s recent financial results showed an annual recurring revenue growth of 10% year-over-year to $646 million, slightly below the $650 million anticipated by analysts. The company’s first-quarter revenue guidance also came in below expectations, with a projected 8% growth rate for the full year 2025. Despite these challenges, Jamf’s management remains optimistic about potential positive shifts in the education and technology sectors.
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