Cantor Fitzgerald Issues Pessimistic Forecast for Jumia Technologies (NYSE:JMIA) Stock Price

Key Points

• Cantor Fitzgerald cut its price target for Jumia Technologies from $11 to $9 while maintaining an “overweight” rating, implying approximately 54% upside from the stock’s $5.83 price.
• Analyst sentiment remains generally positive, with four Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $14.00.
• Jumia shares remain near their 12-month low of $5.59, while institutional investors and hedge funds own approximately 16.5% of the company.

Jumia Technologies (NYSE:JMIA - Get Free Report) had its price objective dropped by equities research analysts at Cantor Fitzgerald from $11.00 to $9.00 in a research report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price points to a potential upside of 54.43% from the stock's current price.

JMIA has been the subject of several other research reports. Craig Hallum reissued a "buy" rating and issued a $12.00 price objective on shares of Jumia Technologies in a report on Thursday, August 13th. Benchmark restated a "buy" rating on shares of Jumia Technologies in a report on Thursday, August 13th. Weiss Ratings restated a "sell (e+)" rating on shares of Jumia Technologies in a report on Thursday. Royal Bank Of Canada dropped their price target on shares of Jumia Technologies from $15.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday, August 13th. Finally, Wall Street Zen cut shares of Jumia Technologies from a "hold" rating to a "sell" rating in a research note on Sunday, July 12th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.00.

Jumia Technologies Stock Down 0.0%

JMIA stock opened at $5.83 on Monday. The company has a debt-to-equity ratio of 25.80, a quick ratio of 0.77 and a current ratio of 0.88. The business has a 50 day moving average price of $6.74 and a two-hundred day moving average price of $6.84. Jumia Technologies has a twelve month low of $5.59 and a twelve month high of $14.72.

Institutional Trading of Jumia Technologies

Hedge funds have recently made changes to their positions in the business. Key Client Fiduciary Advisors LLC increased its holdings in shares of Jumia Technologies by 9.4% during the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 19,164 shares of the company's stock worth $135,000 after acquiring an additional 1,648 shares during the last quarter. Boston Standard Wealth Management LLC raised its stake in Jumia Technologies by 9.4% in the 1st quarter. Boston Standard Wealth Management LLC now owns 20,892 shares of the company's stock valued at $144,000 after acquiring an additional 1,800 shares during the period. International Assets Investment Management LLC raised its stake in Jumia Technologies by 9.5% in the 1st quarter. International Assets Investment Management LLC now owns 23,150 shares of the company's stock valued at $161,000 after acquiring an additional 2,000 shares during the period. GAMMA Investing LLC raised its stake in Jumia Technologies by 27.9% in the 3rd quarter. GAMMA Investing LLC now owns 10,006 shares of the company's stock valued at $67,000 after acquiring an additional 2,183 shares during the period. Finally, Clay Northam Wealth Management LLC lifted its holdings in Jumia Technologies by 29.3% during the 2nd quarter. Clay Northam Wealth Management LLC now owns 13,250 shares of the company's stock valued at $93,000 after purchasing an additional 3,000 shares during the last quarter. 16.50% of the stock is owned by institutional investors and hedge funds.

Jumia Technologies Company Profile

Jumia Technologies AG is an e-commerce company that operates an online marketplace serving consumers and merchants in Africa. Its platform connects customers with third-party sellers offering products such as electronics, mobile phones, fashion, beauty and personal-care items, home goods, groceries and other everyday merchandise.

The company also provides supporting services intended to facilitate online commerce, including delivery and logistics solutions for merchants and customers. Through JumiaPay, it has offered digital payment services and related financial technology solutions, although the availability and scope of these services may vary by market.

Founded in 2012, Jumia has historically expanded its operations across multiple African countries, including markets in North, West, East and Southern Africa.

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