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Jamf Holding price target lowered to $34 from $39 at JMP Securities

JMP Securities analyst Patrick Walravens lowered the firm’s price target on Jamf Holding (JAMF) to $34 from $39 to reflect software multiple compression but keeps an Outperform rating on the shares after attending the annual Jamf Nation User Conference. The analyst states that a number of customers indicated that Jamf remains the leader as a Mobile Device Management solution for Apple (AAPL) in the enterprise. Walravens further cites the company’s new CFO Ian Goodkind providing an updated view of Jamf’s total addressable market at about $35B, which is up from $18B estimated by the company in 2020.

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