Jamf Holding price target lowered to $22 from $25 at BofA

BofA analyst Brad Sills lowered the firm’s price target on Jamf Holding to $22 from $25 and keeps a Neutral rating on the shares. Jamf announcing that CFO Ian Goodkind will be stepping down on November 28 to pursue other opportunities is “raising some questions” on the company’s ability to achieve its 2025 and 2026 growth and profitability targets that were laid-out during its 2024 investor day earlier this year, the analyst tells investors. The firm, which believes the risk/reward on Jamf will likely be balanced until there is further clarity on the management change, and potential change to 2025/26 financial targets, is reducing the multiple it applies to its calendar year 2025 revenue estimate to account for the CFO transition risk.