Zacks Investment Research Downgrades Jumia Technologies (NYSE:JMIA) to Sell

Zacks Investment Research cut shares of Jumia Technologies (NYSE:JMIA) from a hold rating to a sell rating in a research note published on Wednesday morning, reports.

According to Zacks, “Jumia Technologies AG provides e-commerce services. The Company offers products, which includes dresses, leggings, skirts, polo shirts, belts, watches, sunglasses, health products, beauty products and a range of products for children, among others. Jumia Technologies AG is based in Berlin, Germany. “

Other research analysts have also recently issued reports about the company. Citigroup raised China Petroleum & Chemical from a neutral rating to a buy rating in a research report on Tuesday, May 14th. Berenberg Bank reaffirmed a buy rating and set a GBX 340 ($4.44) price objective on shares of Stock Spirits Group in a research report on Tuesday, May 14th. Royal Bank of Canada lowered their price objective on Toromont Industries from C$66.00 to C$65.00 and set a sector perform rating for the company in a research report on Monday, May 6th. Stifel Nicolaus assumed coverage on Elastic in a research report on Monday, May 13th. They set a hold rating and a $75.00 price objective for the company. Finally, Morgan Stanley set a $61.00 price objective on Walgreens Boots Alliance and gave the stock a hold rating in a research report on Tuesday, May 14th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $37.33.

NYSE:JMIA opened at $24.54 on Wednesday. The business’s 50-day simple moving average is $25.05. Jumia Technologies has a 1 year low of $18.13 and a 1 year high of $49.77.

Jumia Technologies Company Profile

Jumia Technologies AG operates an e-commerce platform in Africa. The company's platform consists of marketplace, which connects sellers with consumers; logistics service that enables the shipment and delivery of packages from sellers to consumers; and payment service, which facilitates transactions to participants active on the company's platform in selected markets.

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