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Investors in Jamf Holding Corp. (NASDAQ:JAMF) had a good week, as its shares rose 2.3% to close at US$32.70 following the release of its second-quarter results. The results don't look great, especially considering that statutory losses grew 126% toUS$0.14 per share. Revenues of US$86m did beat expectations by 3.8%, but it looks like a bit of a cold comfort. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. So we collected the latest post-earnings statutory consensus estimates to see what could be in store for next year.
View our latest analysis for Jamf Holding
After the latest results, the eleven analysts covering Jamf Holding are now predicting revenues of US$338.9m in 2021. If met, this would reflect a reasonable 7.9% improvement in sales compared to the last 12 months. Losses are forecast to balloon 70% to US$0.49 per share. Before this latest report, the consensus had been expecting revenues of US$338.9m and US$0.49 per share in losses.
The consensus price target was unchanged at US$44.27, suggesting that the business - losses and all - is executing in line with estimates. Fixating on a single price target can be unwise though, since the consensus target is effectively the average of analyst price targets. As a result, some investors like to look at the range of estimates to see if there are any diverging opinions on the company's valuation. Currently, the most bullish analyst values Jamf Holding at US$56.00 per share, while the most bearish prices it at US$32.00. As you can see, analysts are not all in agreement on the stock's future, but the range of estimates is still reasonably narrow, which could suggest that the outcome is not totally unpredictable.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Jamf Holding's past performance and to peers in the same industry. It's pretty clear that there is an expectation that Jamf Holding's revenue growth will slow down substantially, with revenues to the end of 2021 expected to display 16% growth on an annualised basis. This is compared to a historical growth rate of 34% over the past year. Juxtapose this against the other companies in the industry with analyst coverage, which are forecast to grow their revenues (in aggregate) 14% annually. So it's pretty clear that, while Jamf Holding's revenue growth is expected to slow, it's expected to grow roughly in line with the industry.