Jumia Technologies (NYSE:JMIA) Stock Rating Upgraded by 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.

Jumia Technologies (NYSE:JMIA - Get Free Report) was upgraded by stock analysts at Royal Bank Of Canada from a "sector perform" rating to an "outperform" rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $15.00 target price on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 53.53% from the company's current price.

Jumia Technologies Trading Down 1.4%

NYSE JMIA opened at $9.77 on Tuesday. The company's 50-day simple moving average is $6.62 and its two-hundred day simple moving average is $4.13. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.28. Jumia Technologies has a one year low of $1.60 and a one year high of $10.27.

Institutional Trading of Jumia Technologies

Several institutional investors and hedge funds have recently bought and sold shares of JMIA. GAMMA Investing LLC grew its holdings in shares of Jumia Technologies by 80.9% during the second quarter. GAMMA Investing LLC now owns 7,795 shares of the company's stock worth $31,000 after buying an additional 3,485 shares in the last quarter. Lido Advisors LLC purchased a new stake in shares of Jumia Technologies in the second quarter valued at about $41,000. Jump Financial LLC purchased a new stake in shares of Jumia Technologies in the second quarter valued at about $49,000. Deuterium Capital Management LLC purchased a new stake in shares of Jumia Technologies in the first quarter valued at about $27,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Jumia Technologies in the second quarter valued at about $50,000. 16.50% of the stock is currently owned by institutional investors and hedge funds.

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.

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