MINNEAPOLIS - Jamf (NASDAQ: NASDAQ:JAMF), a company specializing in Apple (NASDAQ:AAPL) device management and security for businesses, has announced the hiring of Andrew Smeaton as Chief Information Security Officer (CISO) and Marc Botham as Global Vice President of Channel and Alliances. This strategic move aims to strengthen the company's leadership as it continues to focus on providing comprehensive management and security solutions in the Apple-first work environment.
CEO John Strosahl expressed confidence that the new additions to the leadership team will further propel Jamf's growth and market presence. Smeaton, with over two decades of global information security experience, will be responsible for Jamf's security vision and market strategy. His background includes roles as CISO with companies such as Afiniti and DataRobot, where he demonstrated expertise in security risk management, regulatory compliance, and cloud security.
Smeaton's role will involve leading the company's information security team and integrating security strategies with business objectives. He emphasized the growing reliance on Apple devices in enterprise environments and the importance of robust security measures to protect against emerging threats.
Marc Botham joins Jamf with a similarly extensive experience in channel development, most recently serving as Head of the EMEA Channel for Docusign. As Global Vice President of Channel and Alliances, he will oversee the expansion of partner strategies and channel programs, aiming to establish Jamf as a leading solution provider for Apple Enterprise Management.
The announcement follows Jamf's recent accolades, including a ranking on PEOPLE Magazine's Companies that Care list and the launch of a new Global Partner Program. These developments highlight the company's commitment to growth and its strategic focus on partnerships and global market expansion.
This leadership enhancement is part of Jamf's ongoing efforts to solidify its position in the market, as it offers a unique blend of management and security for Apple products within the enterprise sector. The information for this article is based on a press release statement.
In other recent news, Jamf Holding Corp. reported robust second-quarter results for 2024, with a 13% year-over-year increase in revenue and non-GAAP operating income reaching $23.5 million. Annual recurring revenue (ARR) hit $621.7 million, with security ARR growing by 27% to $145 million. The company projects its Q3 2024 revenue to range between $156.5 million to $158.5 million, and full-year revenue to be between $622.5 million and $645.5 million.
Jamf also announced significant changes in its executive team. Andrew Smeaton has been appointed as Chief Information Security Officer, and Marc Botham will serve as Global Vice President of Channel and Alliances. Following Ian Goodkind's decision to leave the company, David Rudow will step in as the new Chief Financial Officer.
In terms of analyst notes, Piper Sandler maintained an Overweight rating for Jamf, citing Rudow's extensive experience as a positive indicator for the company's future performance. Needham also reaffirmed its Buy rating on Jamf shares, anticipating a seamless transition with Rudow's appointment. Goldman Sachs initiated coverage on Jamf with a Neutral rating, acknowledging its prominent role in providing cloud-based device management and security solutions.
InvestingPro Insights
As Jamf (NASDAQ: JAMF) welcomes key figures into its leadership team, the company's financial metrics provide a broader context for evaluating its market position and future prospects. With a market capitalization of $2.21 billion, Jamf stands as a significant player in the Apple device management and security space. The company's commitment to growth is also reflected in its revenue figures, with the last twelve months as of Q2 2024 showing a solid revenue growth of 14.6%, signaling a positive trajectory in its business operations.
InvestingPro Tips highlight the company's strong gross profit margin of 79.72% during the same period, which demonstrates Jamf's efficiency in managing its cost of goods sold and maintaining profitability on its products and services. Additionally, Jamf's EBITDA growth of 62.67% showcases the company's improving operational performance and ability to generate earnings before interest, taxes, depreciation, and amortization.
For investors considering Jamf's stock, it's worth noting that the company's shares are currently trading at 80.66% of their 52-week high, with a fair value estimation by analysts at $22 and an InvestingPro fair value slightly higher at $22.7. This suggests potential room for growth in the stock price, aligning with the company's strategic initiatives to enhance its leadership and market presence.
With additional insights available on InvestingPro, including 15 more InvestingPro Tips that provide a deeper analysis of Jamf's financial health and investment potential, subscribers can gain a comprehensive understanding of the company's position in the competitive tech landscape.
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