The short answer to the question is yes.
While the concept of male ejaculation is nothing new, female ejaculation is a lesser known, and even less well understood, phenomenon. To understand how a woman ejaculates, we need to know how ejaculate is even made. In men, the majority of ejaculate fluid is from the prostate. Since women don't have a prostate, how can they make ejaculate fluid? Women have glands in the urethra called the Skene's (or paraurethral) glands, that are homologous to the male prostate. The Skene's glands secrete fluid to lubricate the urethra and vagina, and this fluid has been shown to contain PSA (prostate specific antigen) which is a protein made by the prostate. Some people believe that the Skene's glands are near the G-spot and stimulation of the G-spot results in female ejaculation, although the existence of the G-spot is controversial (see my prior blog "G-spot: Ero"G"enous zone or sexual myth?").
While some women ejaculate fluid made by the Skene's glands, other women likely have involuntary loss of urine during sexual activity. How can it be differentiated? Female ejaculate has been described as a milky fluid and is only about a teaspoon of fluid while urine will look, well, like urine. The term "squirting" is often used when referring to loss of urine, or at least loss of fluid that is not considered to be ejaculate.
How many women actually ejaculate? A lot more than you might think. One study indicated that over 70% of women ejaculate while others report less than 50% of women ejaculate. Whatever the case, the fact that so many women report it and it's actually been studied means that it's a thing...and whether you ejaculate or squirt it doesn't matter as long as you enjoy yourself!