Stock analysts at Stifel Nicolaus initiated coverage on shares of Jumia Technologies (NYSE:JMIA) in a research report issued to clients and investors on Tuesday, May 7th, Marketbeat Ratings reports. The firm set a “hold” rating and a $40.00 price target on the stock. Stifel Nicolaus’ target price indicates a potential upside of 50.26% from the stock’s current price.
The analysts wrote, “We are initiating coverage of Jumia Technologies AG (JMIA) with a Hold rating and a $40 target price. Africa is early in the eCommerce adoption curve as online sales make up less than 1% of retail sales across the continent. A number of favorable demographic trends in the region point to an attractive long-term growth trajectory as points of friction are reduced. Jumia is the leading eCommerce player in Africa and has built a horizontal platform that’s well-positioned to benefit from positive secular trends over the long term. However, Jumia’s relatively high valuation compared to comparable marketplace platforms and long path to profitability drives our Hold rating as we await a more attractive entry point.””
JMIA has been the topic of a number of other research reports. Royal Bank of Canada began coverage on shares of Jumia Technologies in a report on Monday, May 6th. They issued a “sector perform” rating and a $40.00 price target on the stock. Citigroup began coverage on shares of Jumia Technologies in a report on Monday, May 6th. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $37.33.
Jumia Technologies Company Profile
Jumia Technologies AG operates an e-commerce platform in Africa. The company's platform consists of marketplace, which connects sellers with consumers; logistics service that 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.
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