Jumia Technologies (NYSE:JMIA) Shares Gap Up – Still a Buy?

Shares of Jumia Technologies (NYSE:JMIA) gapped up before the market opened on Tuesday . The stock had previously closed at $6.86, but opened at $7.31. Jumia Technologies shares last traded at $7.3110, with a volume of 471,928 shares trading hands.

Analysts Set New Price Targets

Several research firms recently commented on JMIA. Craig Hallum reissued a “buy” rating on shares of Jumia Technologies in a research note on Tuesday, March 10th. New Street Research set a $18.00 target price on shares of Jumia Technologies in a research note on Tuesday, March 10th. Weiss Ratings reissued a “sell (e+)” rating on shares of Jumia Technologies in a research note on Tuesday, April 21st. Finally, Cantor Fitzgerald set a $16.00 target price on shares of Jumia Technologies in a research report on Wednesday, February 11th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Jumia Technologies Price Performance

The business’s 50 day simple moving average is $7.19 and its 200-day simple moving average is $9.53. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.93 and a current ratio of 1.02.

Insider Activity at Jumia Technologies

In related news, EVP Antoine Maillet-Mezeray sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $7.09, for a total value of $141,800.00. Following the completion of the sale, the executive vice president owned 279,992 shares of the company’s stock, valued at approximately $1,985,143.28. The trade was a 6.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Jumia Technologies

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its stake in shares of Jumia Technologies by 2,066.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 3,770 shares of the company’s stock valued at $47,000 after buying an additional 3,596 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Jumia Technologies in the 4th quarter valued at approximately $54,000. EverSource Wealth Advisors LLC grew its stake in shares of Jumia Technologies by 77.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,388 shares of the company’s stock valued at $51,000 after buying an additional 3,221 shares in the last quarter. Federation des caisses Desjardins du Quebec raised its stake in shares of Jumia Technologies by 29.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 9,797 shares of the company’s stock valued at $122,000 after acquiring an additional 2,220 shares in the last quarter. Finally, Fisher Asset Management LLC bought a new position in shares of Jumia Technologies in the 3rd quarter valued at approximately $118,000. Institutional investors own 16.50% of the company’s stock.

Jumia Technologies Company Profile

Jumia Technologies AG (NYSE: JMIA) operates as a leading e-commerce and technology platform in Africa, facilitating online retail, logistics and digital payments. The company’s marketplace connects millions of consumers with a diverse array of sellers offering electronics, fashion, home goods, groceries and more. Beyond its core retail services, Jumia has developed JumiaPay, a payment solution that enables secure transactions both on and off its platform, and Jumia Logistics, which provides end-to-end delivery and fulfillment support across the continent.

Jumia serves a broad geographic footprint in Africa, with operations in key markets such as Nigeria, Egypt, Kenya, Morocco, Ghana, Côte d’Ivoire, Uganda, Tunisia and South Africa.