Jamf Holding Corp.

DB:JA4 Stock Report

Market Cap: €1.9b

Jamf Holding Valuation

Is JA4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of JA4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: JA4 (€14.3) is trading below our estimate of fair value (€43.14)

Significantly Below Fair Value: JA4 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for JA4?

Key metric: As JA4 is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for JA4. This is calculated by dividing JA4's market cap by their current revenue.
What is JA4's PS Ratio?
PS Ratio3.2x
SalesUS$615.07m
Market CapUS$1.96b

Price to Sales Ratio vs Peers

How does JA4's PS Ratio compare to its peers?

The above table shows the PS ratio for JA4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average11.3x
AOF ATOSS Software
11.4x12.7%€1.9b
NB2 Northern Data
28.3x31.6%€2.1b
TMV TeamViewer
2.8x6.4%€1.8b
MUM Mensch und Maschine Software
2.5x-0.1%€885.3m
JA4 Jamf Holding
3.2x12.4%€2.0b

Price-To-Sales vs Peers: JA4 is good value based on its Price-To-Sales Ratio (3.2x) compared to the peer average (11.3x).

Price to Sales Ratio vs Industry

How does JA4's PS Ratio compare vs other companies in the DE Software Industry?

6 CompaniesPrice / SalesEstimated GrowthMarket Cap
CSH CENIT
0.4x5.5%US$77.85m
CLIQ Cliq Digital
0.09x12.9%US$27.33m
LSX LS telcom
0.5x5.0%US$21.19m
8DQ GetSwift Technologies
0.07xn/aUS$2.53m
JA4 3.2xIndustry Avg. 1.8xNo. of Companies7PS02.44.87.29.612+
6 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: JA4 is expensive based on its Price-To-Sales Ratio (3.2x) compared to the German Software industry average (1.8x).

Price to Sales Ratio vs Fair Ratio

What is JA4's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

JA4 PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.2x
Fair PS Ratio5.4x

Price-To-Sales vs Fair Ratio: JA4 is good value based on its Price-To-Sales Ratio (3.2x) compared to the estimated Fair Price-To-Sales Ratio (5.4x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst JA4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€14.30
€21.48
+50.2%
13.7%€28.16€18.77n/a9
Nov ’25€15.20
€20.99
+38.1%
13.7%€27.51€18.34n/a9
Oct ’25€15.30
€20.58
+34.5%
13.3%€26.84€17.90n/a9
Sep ’25€16.90
€21.65
+28.1%
13.4%€27.49€18.32n/a8
Aug ’25€16.70
€22.28
+33.4%
11.2%€27.57€18.38n/a8
Jul ’25n/a
€22.28
0%
11.2%€27.57€18.38n/a8
Jun ’25n/a
€22.41
0%
11.2%€27.72€18.48n/a8
May ’25€17.80
€21.01
+18.0%
13.2%€27.60€17.48n/a10
Apr ’25€16.68
€21.01
+25.9%
13.2%€27.60€17.48n/a10
Mar ’25€16.35
€20.71
+26.7%
15.4%€27.68€16.61n/a9
Feb ’25€16.87
€21.57
+27.9%
13.4%€28.13€17.82n/a9
Jan ’25€16.39
€21.57
+31.6%
13.4%€28.13€17.82n/a9
Dec ’24€14.95
€21.57
+44.3%
13.4%€28.13€17.82n/a9
Nov ’24€14.93
€23.42
+56.9%
18.5%€32.08€17.42€15.209
Oct ’24€16.32
€23.42
+43.5%
18.5%€32.08€17.42€15.309
Sep ’24€15.26
€23.42
+53.5%
18.5%€32.08€17.42€16.909
Aug ’24€19.55
€23.51
+20.3%
16.6%€31.25€16.96€16.709
Jul ’24€17.63
€23.49
+33.3%
18.1%€31.76€17.24n/a9
Jun ’24€17.05
€23.49
+37.8%
18.1%€31.76€17.24n/a9
May ’24€16.46
€25.53
+55.2%
14.0%€32.83€19.70€17.809
Apr ’24€17.09
€25.53
+49.4%
14.0%€32.83€19.70€16.689
Mar ’24€19.84
€25.53
+28.7%
14.0%€32.83€19.70€16.359
Feb ’24€18.05
€26.23
+45.3%
15.6%€32.53€19.52€16.879
Jan ’24€19.83
€27.76
+40.0%
14.3%€33.00€19.80€16.399
Dec ’23€20.21
€28.89
+42.9%
14.3%€34.34€20.60€14.959
Nov ’23n/a
€33.62
0%
11.3%€40.88€28.62€14.939

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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