Jamf (JAMF) Moves to Sell
Jamf (JAMF) reported Q3 results yesterday that came in ahead of expectations. Revenue was up 29% to $70.4 million (beating by almost $5 million) and adjusted EPS was $0.07, beating by $0.04. Overall, it was a solid quarter with some of the impacts from the pandemic easing (device growth was up 23%) while other tailwinds continued to support growth (work from home, remote learning, telehealth, etc.). Taking everything into account, my take on this stock is that upside is probably somewhat limited over the coming months as the challenges and the opportunities brought on by the pandemic may somewhat cancel each other out. Shares also trade at a premium valuation and for a recent IPO we’d rather have a clearer picture and sense of bullishness in the near term than a murky one and uncertainty. With new opportunities coming in next week’s Issue my preference is to direct the capital into other stocks that could offer more near-term upside. Therefore, Jamf moves to sell. We’ll be exiting right around our entry point. SELL