Jumia Technologies (NYSE:JMIA) Earns Buy Rating from Analysts at Benchmark

Analysts at Benchmark assumed coverage on shares of Jumia Technologies (NYSE:JMIA) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a “buy” rating and a $18.00 price target on the stock. Benchmark’s target price suggests a potential upside of 51.45% from the stock’s current price.

Several other analysts also recently weighed in on JMIA. Weiss Ratings reiterated a “sell (e+)” rating on shares of Jumia Technologies in a report on Wednesday, October 8th. Royal Bank Of Canada raised Jumia Technologies from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $6.50 to $15.00 in a research note on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

Jumia Technologies Stock Performance

Shares of JMIA stock opened at $11.89 on Tuesday. Jumia Technologies has a 1-year low of $1.60 and a 1-year high of $13.14. The company has a 50-day moving average of $11.21 and a two-hundred day moving average of $7.38. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.24.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Two Sigma Investments LP grew its stake in Jumia Technologies by 204.4% during the 3rd quarter. Two Sigma Investments LP now owns 1,742,694 shares of the company’s stock worth $20,233,000 after purchasing an additional 1,170,214 shares in the last quarter. SBI Securities Co. Ltd. raised its position in Jumia Technologies by 18.1% in the 3rd quarter. SBI Securities Co. Ltd. now owns 465,846 shares of the company’s stock valued at $5,408,000 after purchasing an additional 71,254 shares in the last quarter. Nomura Holdings Inc. boosted its stake in shares of Jumia Technologies by 361.7% in the 3rd quarter. Nomura Holdings Inc. now owns 461,670 shares of the company’s stock valued at $5,360,000 after buying an additional 361,670 shares during the period. Jump Financial LLC grew its position in shares of Jumia Technologies by 3,439.4% during the third quarter. Jump Financial LLC now owns 432,300 shares of the company’s stock worth $5,019,000 after buying an additional 420,086 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Jumia Technologies by 3,250.9% during the third quarter. Bank of America Corp DE now owns 312,503 shares of the company’s stock worth $3,628,000 after buying an additional 303,177 shares during the period. 16.50% of the stock is currently owned by hedge funds and other institutional investors.

Jumia Technologies Company Profile

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.