Jumia Technologies (NYSE:JMIA) Rating Increased to Outperform at Royal Bank Of Canada

Key Points

• Jumia Technologies has been upgraded from a "sector perform" to an "outperform" rating by the Royal Bank of Canada, with a target price of $15.00.
• The stock currently has a potential upside of 53.53% from its current trading price of approximately $9.77.
• Institutional ownership has increased, with notable investments from firms like GAMMA Investing LLC, which raised its stake by 80.9% in the second quarter.

Royal Bank Of Canada upgraded shares of Jumia Technologies (NYSE:JMIA - Free Report) from a sector perform rating to an outperform rating in a report published on Tuesday, MarketBeat.com reports. Royal Bank Of Canada currently has $15.00 target price on the stock, up from their prior target price of $6.50.

Jumia Technologies Price Performance

NYSE:JMIA traded down $0.26 during midday trading on Tuesday, hitting $11.66. 2,784,037 shares of the company were exchanged, compared to its average volume of 4,248,685. The company has a fifty day simple moving average of $7.22 and a 200 day simple moving average of $4.37. Jumia Technologies has a fifty-two week low of $1.60 and a fifty-two week high of $12.37. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.28.

Institutional Trading of Jumia Technologies

A number of institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. boosted its holdings in Jumia Technologies by 5.7% during the second quarter. Osaic Holdings Inc. now owns 42,348 shares of the company's stock worth $170,000 after buying an additional 2,300 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Jumia Technologies by 11.0% during the fourth quarter. Ameriprise Financial Inc. now owns 24,717 shares of the company's stock worth $94,000 after buying an additional 2,455 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in Jumia Technologies by 19.7% during the second quarter. Crumly & Associates Inc. now owns 15,813 shares of the company's stock worth $64,000 after buying an additional 2,600 shares in the last quarter. WealthTrust Axiom LLC boosted its holdings in Jumia Technologies by 17.5% during the second quarter. WealthTrust Axiom LLC now owns 20,161 shares of the company's stock worth $81,000 after buying an additional 3,000 shares in the last quarter. Finally, Profund Advisors LLC boosted its holdings in Jumia Technologies by 3.6% during the second quarter. Profund Advisors LLC now owns 99,827 shares of the company's stock worth $401,000 after buying an additional 3,447 shares in the last quarter. Hedge funds and other institutional investors own 16.50% of the company's stock.

About Jumia Technologies

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.