Jumia Technologies (NYSE:JMIA) Upgraded to Strong-Buy at Cantor Fitzgerald

Jumia Technologies (NYSE:JMIA) was upgraded by research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently weighed in on JMIA. Benchmark began coverage on shares of Jumia Technologies in a research report on Tuesday, November 25th. They issued a “buy” rating and a $18.00 price objective for the company. Craig Hallum initiated coverage on Jumia Technologies in a report on Tuesday, December 16th. They issued a “buy” rating and a $18.00 price target for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.25.

Jumia Technologies Stock Performance

Shares of NYSE:JMIA opened at $12.27 on Monday. The company has a 50 day moving average of $12.65 and a two-hundred day moving average of $10.74. Jumia Technologies has a 52-week low of $1.60 and a 52-week high of $14.72. The company has a quick ratio of 1.12, a current ratio of 1.20 and a debt-to-equity ratio of 0.24.

Jumia Technologies (NYSE:JMIA) last announced its earnings results on Tuesday, February 10th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $61.40 million during the quarter. Jumia Technologies had a negative net margin of 40.86% and a negative return on equity of 116.72%.

Institutional Investors Weigh In On Jumia Technologies

Institutional investors have recently made changes to their positions in the company. Two Sigma Investments LP raised its stake in shares of Jumia Technologies by 204.4% during the third quarter. Two Sigma Investments LP now owns 1,742,694 shares of the company’s stock valued at $20,233,000 after purchasing an additional 1,170,214 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Jumia Technologies by 15.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 536,568 shares of the company’s stock valued at $6,702,000 after buying an additional 70,722 shares in the last quarter. Nomura Holdings Inc. increased its stake in Jumia Technologies by 361.7% during 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 increased its stake in Jumia Technologies by 3,439.4% during the 3rd quarter. Jump Financial LLC now owns 432,300 shares of the company’s stock valued at $5,019,000 after buying an additional 420,086 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Jumia Technologies by 3,250.9% during the 3rd 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 in the last quarter. 16.50% of the stock is currently owned by institutional investors.

Jumia Technologies Company Profile

Jumia Technologies AG (NYSE: JMIA) operates as a leading e-commerce and technology platform in Africa, facilitating online retail, logistics and digital payments. The company’s marketplace connects millions of consumers with a diverse array of sellers offering electronics, fashion, home goods, groceries and more. Beyond its core retail services, Jumia has developed JumiaPay, a payment solution that enables secure transactions both on and off its platform, and Jumia Logistics, which provides end-to-end delivery and fulfillment support across the continent.

Jumia serves a broad geographic footprint in Africa, with operations in key markets such as Nigeria, Egypt, Kenya, Morocco, Ghana, Côte d’Ivoire, Uganda, Tunisia and South Africa.