Jamf Holding initiated with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Hamza Fodderwala initiated coverage of Jamf Holding with an Equal Weight rating and $20 price target While the company is a beneficiary of Apple’s share gain in the enterprise, a slower PC refresh and increasing competition create risk to Jamf’s guidance and consensus estimates, the analyst tells investors in a research note. The firm also also thinks accelerating sales growth and significant margin improvements is unlikely, given the investment required to drive better cross-sell of security offerings.