Jumia Technologies (NYSE:JMIA) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded Jumia Technologies to a “Hold” rating. The broader analyst consensus remains “Moderate Buy,” with four Buy ratings, one Hold, and one Sell, and an average target price of $14.00.
• Jumia shares opened at $5.68, near their 12-month low of $5.59 and below their 50-day and 200-day moving averages of $6.71 and $6.81, respectively.
• Institutional ownership stands at 16.50%, with several investment firms recently increasing their positions, including Walleye Capital, which raised its stake by more than 1,800%.

Jumia Technologies (NYSE:JMIA - Get Free Report) was upgraded by investment analysts at Zacks Research to a "hold" rating in a report issued on Thursday, Zacks reports.

A number of other analysts also recently issued reports on JMIA. Craig Hallum reissued a "buy" rating and set a $12.00 price objective on shares of Jumia Technologies in a research report on Thursday, August 13th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Jumia Technologies in a report on Thursday, October 15th. Royal Bank Of Canada cut their target price on Jumia Technologies from $15.00 to $13.00 and set an "outperform" rating on the stock in a research report on Thursday, August 13th. Cantor Fitzgerald decreased their price target 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. Finally, Benchmark restated a "buy" rating on shares of Jumia Technologies in a research report on Thursday, August 13th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Jumia Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

Jumia Technologies Price Performance

JMIA opened at $5.68 on Thursday. The firm's 50-day moving average price is $6.71 and its 200 day moving average price is $6.81. Jumia Technologies has a twelve month low of $5.59 and a twelve month high of $14.72. The company has a debt-to-equity ratio of 25.80, a quick ratio of 0.77 and a current ratio of 0.88.

Institutional Trading of Jumia Technologies

A number of large investors have recently made changes to their positions in JMIA. Walleye Capital LLC increased its position in shares of 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 purchasing an additional 268,552 shares during the last quarter. Revisor Wealth Management LLC raised its holdings in shares of Jumia Technologies by 2.7% in the 1st quarter. Revisor Wealth Management LLC now owns 190,350 shares of the company's stock valued at $1,313,000 after purchasing an additional 5,000 shares in the last quarter. Cannell & Spears LLC lifted its position in shares of Jumia Technologies by 142.5% during the 1st quarter. Cannell & Spears LLC now owns 97,000 shares of the company's stock worth $669,000 after purchasing an additional 57,000 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Jumia Technologies by 159.4% during the 1st quarter. Cetera Investment Advisers now owns 57,985 shares of the company's stock worth $400,000 after purchasing an additional 35,635 shares during the last quarter. Finally, RFG Advisory LLC lifted its holdings in Jumia Technologies by 24.4% during the 2nd quarter. RFG Advisory LLC now owns 38,528 shares of the company's stock worth $272,000 after buying an additional 7,559 shares during the last quarter. 16.50% of the stock is currently owned by hedge funds and other institutional investors.

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.

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