Jumia Technologies (NYSE:JMIA) Upgraded by Cantor Fitzgerald to “Strong-Buy” Rating

Cantor Fitzgerald upgraded shares of Jumia Technologies (NYSE:JMIA) to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other research analysts have also commented on the company. Craig Hallum began coverage on Jumia Technologies in a research report on Tuesday, December 16th. They set a “buy” rating and a $18.00 price target on the stock. Benchmark initiated coverage on shares of Jumia Technologies in a report on Tuesday, November 25th. They issued a “buy” rating and a $18.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Jumia Technologies in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

Jumia Technologies Price Performance

JMIA traded down $1.96 on Monday, reaching $10.32. The company had a trading volume of 3,365,999 shares, compared to its average volume of 2,939,599. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.20 and a quick ratio of 1.12. Jumia Technologies has a 1 year low of $1.60 and a 1 year high of $14.72. The stock has a 50-day moving average price of $12.65 and a 200-day moving average price of $10.74.

Jumia Technologies (NYSE:JMIA) last posted its earnings results on Tuesday, February 10th. The company reported ($0.08) EPS for the quarter. Jumia Technologies had a negative return on equity of 116.72% and a negative net margin of 40.86%.The firm had revenue of $61.40 million for the quarter.

Institutional Trading of Jumia Technologies

Several hedge funds have recently made changes to their positions in the company. one8zero8 LLC acquired a new position in shares of Jumia Technologies during the third quarter worth about $1,611,000. Marex Group plc purchased a new stake in Jumia Technologies in the 2nd quarter valued at approximately $342,000. Truist Financial Corp acquired a new position in Jumia Technologies during the 2nd quarter worth approximately $73,000. SBI Securities Co. Ltd. raised its stake in shares of Jumia Technologies by 18.1% during the 3rd quarter. SBI Securities Co. Ltd. now owns 465,846 shares of the company’s stock worth $5,408,000 after buying an additional 71,254 shares in the last quarter. Finally, Ritholtz Wealth Management acquired a new stake in shares of Jumia Technologies in the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 16.50% of the company’s stock.

About Jumia Technologies

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.