Jumia Technologies (NYSE:JMIA) Price Target Cut to $8.00 by Analysts at Raymond James

Jumia Technologies (NYSE:JMIA) had its price objective reduced by equities research analysts at Raymond James from $23.00 to $8.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Raymond James’ target price indicates a potential upside of 31.36% from the stock’s current price.

Several other brokerages have also issued reports on JMIA. Zacks Investment Research upgraded shares of Jumia Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. ValuEngine lowered shares of Jumia Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Morgan Stanley upgraded shares of Jumia Technologies from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $22.00 to $13.00 in a research report on Tuesday, August 20th. Royal Bank of Canada dropped their target price on shares of Jumia Technologies to $22.00 and set a “positive” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $14.00 target price on shares of Jumia Technologies in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Jumia Technologies presently has a consensus rating of “Hold” and an average price target of $23.83.

Shares of NYSE JMIA opened at $6.09 on Wednesday. The firm has a 50-day moving average of $7.09. Jumia Technologies has a 52-week low of $5.59 and a 52-week high of $49.77. The firm has a market capitalization of $478.16 million and a price-to-earnings ratio of -1.51. The company has a current ratio of 3.42, a quick ratio of 3.30 and a debt-to-equity ratio of 0.02.

A number of institutional investors and hedge funds have recently bought and sold shares of JMIA. Baillie Gifford & Co. acquired a new position in Jumia Technologies during the second quarter worth about $237,842,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Jumia Technologies during the second quarter worth about $28,108,000. Morgan Stanley purchased a new position in Jumia Technologies during the second quarter worth about $9,705,000. Schroder Investment Management Group purchased a new position in Jumia Technologies during the second quarter worth about $9,682,000. Finally, Summit Partners L P purchased a new position in Jumia Technologies during the second quarter worth about $7,309,000. Hedge funds and other institutional investors own 16.74% of the company’s stock.

About Jumia Technologies

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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Analyst Recommendations for Jumia Technologies (NYSE:JMIA)

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