Goldman Sachs Sees 21% Upside In Jamf, Courtesy Apple

Goldman Sachs analyst Brian Essex assumed coverage of Jamf Holding Corp JAMF with a Buy rating and $38 price target, implying a 21% upside.
The stock's recent pullback presents a buying opportunity, Essex tells investors in a research note.
The analyst says Jamf has established itself as a "leading Apple Inc AAPL native enterprise" Mac and iOS management and security platform partner.
The stock traded off over concern about competition from Apple when Apple Business Essentials was announced several weeks ago, notes Essex.
However, he believes Jamf is positioned well as a valued partner for Apple and thinks Apple's development will complement Jamf's platform rather than be competitive.
Jamf is the standard in Apple Enterprise Management, and its cloud software platform is the vertically focused Apple infrastructure and security platform. The company helps organizations connect, manage and protect Apple products, apps, and corporate resources in the cloud without touching the devices. It sells its Software-as-a-Service, or SaaS, solutions via a subscription model.
Price Action: JAMF shares closed lower by 1.16% at $31.40 on Wednesday.