Cloud Software Provider Jamf Files for IPO

Jamf helps enterprises manage their Apple products and apps. It intends to list on the Nasdaq Global Select Market under the ticker symbol JAMF.
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Jamf Holding, a cloud software provider that helps enterprises manage their Apple products and apps, filed Tuesday with the SEC for an initial public offering.

Jamf intends to list on the Nasdaq Global Select Market under the ticker symbol JAMF.

Goldman Sachs, J.P. Morgan, BofA Securities and Barclays are the lead book-running managers.

Jamf posted a net loss of $8.3 million on revenue of $60.4 million for the quarter ended March 31, compared to a loss of $9.0 million on revenue of $44.1 million in the year-ago quarter.

After freezing in place as the coronavirus pandemic began to rage in March, the IPO market has rebounded with a vengeance. The Renaissance IPO ETF IPO has soared 51% over the last three months.

Meanwhile, major orders from cloud giants and a more favorable memory pricing environment helped semiconductor titan Micron  (MU) - Get Report top analyst estimates in its earnings report Monday.

Micron reported revenue of $5.44 billion for the May quarter, up 14% from a year earlier, and earnings per share of 71 cents. Both numbers beat estimates.

Much like Intel  (INTC) - Get Report, AMD  (AMD) - Get Report, Nvidia  (NVDA) - Get Report and a host of other chip suppliers with decent cloud exposure, Micron continues seeing strong demand from Internet/cloud heavyweights.

That stems from a capex upswing that started in late 2018 getting a boost from investments made to support the traffic spikes that have followed Covid-19 lockdowns.

Cloud DRAM sales were said to be up “significantly” on a sequential basis, and cloud SSD sales more than doubled sequentially.

Micron shares stood at $51.75 in pre-market trading, up 5.30%.

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