Jamf Holding Corp. (JAMF): A Bull Case Theory

We came crossed a bullish thesis connected Jamf Holding Corp. connected Valueinvestorsclub.com by moonstream. In this article, we volition summarize the bulls’ thesis connected JAMF. Jamf Holding Corp.'s stock was trading astatine $12.93 arsenic of November 28th. JAMF’s guardant P/E was 11.44 according to Yahoo Finance.

JAMF is simply a starring endeavor bundle institution focused connected mobile instrumentality absorption (MDM) for Apple devices, with a beardown competitory presumption and a increasing beingness successful information solutions. The institution serves implicit 75,000 customers and manages astir 35 cardinal devices, leveraging the ongoing displacement from Windows to Apple devices successful firm and acquisition markets.

JAMF has expanded its merchandise portfolio beyond MDM into security, present representing astir 30% of full ARR and increasing 20–30% annually, creating cross-sell opportunities and higher stickiness wrong its lawsuit base. Despite this, the banal trades astatine conscionable 2.5x NTM gross and 10x NTM EBITDA, reflecting market skepticism driven by caller cyclical headwinds, post-COVID normalization, and elevated tech assemblage layoffs, which temporarily slowed instrumentality maturation and ARR expansion.

Organic RPO bookings person shown accordant improvement, rebounding from -3% successful Q2 2024 to >20% successful Q2 2025, signaling stabilization and imaginable reacceleration successful growth. JAMF has besides aggressively expanded margins, tripling LTM margins to implicit 20% done operational efficiencies, go-to-market pivots toward spouse channels, and workforce reductions, moving toward a Rule-of-40 illustration by 2026. Competitive threats from Microsoft Intune and smaller players similar Kandji and Mosyle remain limited, arsenic JAMF retains unmatched functionality for Mac absorption and its standard vantage persists.

The operation of beardown secular tailwinds from Apple instrumentality adoption, a increasing information TAM, improving bookings, and operational leverage positions JAMF for sustained double-digit ARR growth. Potential catalysts see affirmative estimation revisions, aggregate expansion, and a imaginable sale, which could unlock important shareholder value. At existent valuations, JAMF offers a compelling risk/reward profile, with upside of ~90% implicit a two-year skyline successful the basal case, portion downside remains constricted adjacent nether blimpish assumptions.

Previously we covered a bullish thesis connected Broadcom Inc. (AVGO) by Daan Rijnberk successful March 2025, which highlighted the company’s AI-driven gross growth, grounds margins, and beardown escaped currency travel generation. The company's banal terms has appreciated astir by 106.07% since our coverage. The thesis inactive stands arsenic AVGO’s AI enactment remains intact. Moonstream shares a akin attack but emphasizes JAMF’s MDM dominance, borderline expansion, and information maturation potential.