Jumia Technologies (NYSE:JMIA) Stock Rating Upgraded by Zacks Research

Jumia Technologies (NYSE:JMIA) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.

Several other research firms also recently commented on JMIA. Royal Bank Of Canada reduced their price objective on Jumia Technologies from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Thursday, August 13th. Cantor Fitzgerald lowered their target price on Jumia Technologies from $11.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, October 19th. Weiss Ratings reissued a “sell (e+)” rating on shares of Jumia Technologies in a report on Thursday, October 15th. Benchmark restated a “buy” rating on shares of Jumia Technologies in a research note on Thursday, August 13th. Finally, Craig Hallum restated a “buy” rating and set a $12.00 price target on shares of Jumia Technologies in a research note on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.00.

Jumia Technologies Trading Down 3.8%

Shares of JMIA opened at $5.68 on Thursday. Jumia Technologies has a fifty-two week low of $5.59 and a fifty-two week high of $14.72. The firm has a 50-day simple moving average of $6.71 and a 200-day simple moving average of $6.81. The company has a current ratio of 0.88, a quick ratio of 0.77 and a debt-to-equity ratio of 25.80.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Walleye Capital LLC lifted its stake in Jumia Technologies by 1,852.2% in the 1st quarter. Walleye Capital LLC now owns 254,053 shares of the company’s stock valued at $1,753,000 after buying an additional 268,552 shares in the last quarter. Revisor Wealth Management LLC grew its holdings in Jumia Technologies by 2.7% during the 1st quarter. Revisor Wealth Management LLC now owns 190,350 shares of the company’s stock valued at $1,313,000 after buying an additional 5,000 shares during the last quarter. Cannell & Spears LLC increased its position in Jumia Technologies by 142.5% during the first quarter. Cannell & Spears LLC now owns 97,000 shares of the company’s stock worth $669,000 after buying an additional 57,000 shares in the last quarter. Cetera Investment Advisers increased its position in Jumia Technologies by 159.4% during the first quarter. Cetera Investment Advisers now owns 57,985 shares of the company’s stock worth $400,000 after buying an additional 35,635 shares in the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of Jumia Technologies by 24.4% in the second quarter. RFG Advisory LLC now owns 38,528 shares of the company’s stock worth $272,000 after acquiring an additional 7,559 shares during the last quarter. 16.50% of the stock is currently owned by institutional investors and hedge funds.

About Jumia Technologies

Jumia Technologies AG is an e-commerce company focused on serving consumers and businesses in Africa. Through its online marketplace, the company offers products across categories such as electronics, mobile phones, home goods, fashion, beauty and personal care, groceries, and other everyday essentials. Jumia connects customers with third-party sellers and brands, supporting product discovery, ordering, payment, and delivery.

The company also provides logistics services that facilitate deliveries for orders placed on its platform and, in some markets, for external merchants.