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Jamf Stock Climbs Over 90% at IPO, Goes Down 1% Now, Should You Buy?

Jamf Holding Corp (NASDAQ: JAMF) recently had a successful Initial Public Offering (IPO) day as the stock rose over 90% in its market debut. Since its inception in 2002, the company has grown to be one of the most sought-after management firms for Apple products. Still basking in the IPO’s success, several investors may be wondering whether or not JAMF is the best market investment move.

The company is only just going public after 18 years in existence. According to CEO Dean Hager, the IPO ensures the business lasts:

“We’re 18 years old. We want to be there for customers for the long term. Going public is the best way to do that.” 

According to an SEC filing on June 29, Jamf presently has over 40,000 customers in over 100 countries. Hager has also said that the trading day was “about as energizing a day as we’ve had in Jamf’s history.”

The IPO, which held on July 22, opened on the Nasdaq with the ticker “JAMF.” Jamf’s shares started selling at $26 with 18 million shares for sale. During the day, the stock hit $51 per share and finally closed at$39.20.

Jamf, Apple’s enterprise management software service, is the latest firm to make a remarkable trading debut. At the end of the IPO, Jamf raised over $460 million. The cloud-based software, Jamf, helps users of Apple devices secure and remotely manage their hardware and applications. According to the company, its mission is to “help organizations succeed with Apple,” the most valuable company globally, with over a trillion dollars market cap.

Currently trading at $38.12, JAMF opened today at $37.65 and is currently dangling between the opening price and 38.75. The present trading price is a 4.51% loss over its previous close of $39.88. According to MarketWatch, Jamf Holdings Corp. presently has a market capitalization of $4.64 billion.

In the first quarter, Jamf’s revenue jumped 37% from a year ago to $60.4 million. In addition, the company’s gross margin increased by 5% to 75%, with a surge in the number of subscribers. However, the company had a net loss of almost $2 million from $9 million. 

Business consulting firm Frost & Sullivan believes that the Apple enterprise management market will grow almost 18% annually to hit $23.4 billion per year by the end of 2024. Jamf even believes that this figure could be larger if Apple Inc (NASDAQ: AAPL) allows enterprise management for its hardware. Generally, this means that Jamf could grow as big as Apple is willing to allow, however indirectly.

On March 31, Jamf had a total debt of $202 million. Now, the company has plans to receive net proceeds of $320 million from its IPO to pay off the debt. After settling the debt, Jamf will have $118 million which it will add to the company’s balance sheet.

CEO Hegar is not bothered that Jamf only supports Apple devices. Hegar cited research which shows that 70% of millennials prefer Apple devices to Android. Speaking to American news website, Axios, he added:

“That means we are at the beginning of this transformation, not nearing the end.”

Jamf had 12 banks underwriting the IPO. Among the underwriters, we can mention Barclays, JPMorgan, Goldman Sachs and BofA Securities.

With Jamf’s recent successes, the company’s stock may continue to surge. However, it could be that the current spike in prices is simply initial excitement from the IPO.

You can find other IPO news following the link.

Jamf Stock Climbs Over 90% at IPO, Goes Down 1% Now, Should You Buy?

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