Jamf Holding Corp. (NASDAQ:JAMF) Analysts Are Pretty Bullish On The Stock After Recent Results

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Last week, you might have seen that Jamf Holding Corp. (NASDAQ:JAMF) released its quarterly result to the market. The early response was not positive, with shares down 3.5% to US$19.51 in the past week. The results overall were pretty much dead in line with analyst forecasts; revenues were US$152m and statutory losses were US$0.16 per share. Earnings are an important time for investors, as they can track a company’s performance, look at what the analysts are forecasting for next year, and see if there’s been a change in sentiment towards the company. So we gathered the latest post-earnings forecasts to see what estimates suggest is in store for next year.

View our latest analysis for Jamf Holding

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Taking into account the latest results, the consensus forecast from Jamf Holding’s eight analysts is for revenues of US$620.7m in 2024. This reflects an okay 6.9% improvement in revenue compared to the last 12 months. Losses are forecast to narrow 4.6% to US$0.79 per share. Before this latest report, the consensus had been expecting revenues of US$617.4m and US$0.59 per share in losses. So it’s pretty clear the analysts have mixed opinions on Jamf Holding even after this update; although they reconfirmed their revenue numbers, it came at the cost of a considerable increase to per-share losses.

Despite expectations of heavier losses next year,the analysts have lifted their price target 5.4% to US$24.13, perhaps implying these losses are not expected to be recurring over the long term. That’s not the only conclusion we can draw from this data however, as some investors also like to consider the spread in estimates when evaluating analyst price targets. There are some variant perceptions on Jamf Holding, with the most bullish analyst valuing it at US$30.00 and the most bearish at US$20.00 per share. There are definitely some different views on the stock, but the range of estimates is not wide enough as to imply that the situation is unforecastable, in our view.

One way to get more context on these forecasts is to look at how they compare to both past performance, and how other companies in the same industry are performing. It’s pretty clear that there is an expectation that Jamf Holding’s revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 9.3% growth on an annualised basis. This is compared to a historical growth rate of 22% over the past three years. Compare this against other companies (with analyst forecasts) in the industry, which are in aggregate expected to see revenue growth of 13% annually. So it’s pretty clear that, while revenue growth is expected to slow down, the wider industry is also expected to grow faster than Jamf Holding.

The Bottom Line

The most important thing to note is the forecast of increased losses next year, suggesting all may not be well at Jamf Holding. Fortunately, the analysts also reconfirmed their revenue estimates, suggesting that it’s tracking in line with expectations. Although our data does suggest that Jamf Holding’s revenue is expected to perform worse than the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.

With that said, the long-term trajectory of the company’s earnings is a lot more important than next year. At Simply Wall St, we have a full range of analyst estimates for Jamf Holding going out to 2026, and you can see them free on our platform here..

We don’t want to rain on the parade too much, but we did also find 3 warning signs for Jamf Holding that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.