Benchmark Initiates Coverage on Jumia Technologies (NYSE:JMIA)

Stock analysts at Benchmark initiated coverage on shares of Jumia Technologies (NYSE:JMIAGet Free Report) in a research report issued on Tuesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $14.00 price target on the stock. Benchmark’s price objective indicates a potential upside of 19.10% from the company’s previous close.

Jumia Technologies Price Performance

NYSE:JMIA opened at $11.76 on Tuesday. The company has a quick ratio of 1.19, a current ratio of 1.27 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $7.32 and a 200-day moving average price of $5.45. Jumia Technologies has a 1-year low of $2.22 and a 1-year high of $12.09.

Institutional Investors Weigh In On Jumia Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in JMIA. Belpointe Asset Management LLC increased its holdings in Jumia Technologies by 45.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 76,288 shares of the company’s stock worth $201,000 after acquiring an additional 23,694 shares in the last quarter. Citigroup Inc. increased its holdings in Jumia Technologies by 12.2% in the 3rd quarter. Citigroup Inc. now owns 117,783 shares of the company’s stock worth $311,000 after acquiring an additional 12,800 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Jumia Technologies by 5.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 119,588 shares of the company’s stock worth $422,000 after acquiring an additional 6,245 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Jumia Technologies by 236.3% in the 4th quarter. International Assets Investment Management LLC now owns 56,833 shares of the company’s stock worth $201,000 after acquiring an additional 39,933 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Jumia Technologies in the 4th quarter worth $61,000. Hedge funds and other institutional investors own 16.50% of the company’s stock.

About Jumia Technologies

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Jumia Technologies AG operates an e-commerce platform in West Africa, North Africa, East and South Africa, Europe, the United Arab Emirates, and internationally. The company's platform consists of marketplace that connects sellers with customers; logistics service, which 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 under the JumiaPay name.

Further Reading

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