Zacks Investment Research Upgrades Jumia Technologies (NYSE:JMIA) to Hold

Jumia Technologies (NYSE:JMIA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Jumia Technologies AG provides e-commerce services. The Company offers products, which includes dresses, leggings, skirts, polo shirts, belts, watches, sunglasses, health products, beauty products and a range of products for children, among others. Jumia Technologies AG is based in Berlin, Germany. “

A number of other equities research analysts have also recently commented on JMIA. Morgan Stanley upgraded shares of Jumia Technologies from an “underweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $13.00 in a research report on Tuesday, August 20th. Raymond James reiterated an “outperform” rating and issued a $23.00 target price (down from $36.00) on shares of Jumia Technologies in a research report on Thursday, August 22nd. Royal Bank of Canada upgraded shares of Jumia Technologies from a “sector perform” rating to an “outperform” rating and reduced their target price for the company from $40.00 to $30.00 in a research report on Wednesday, August 21st. They noted that the move was a valuation call. ValuEngine cut shares of Jumia Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus set a $28.00 target price on shares of Jumia Technologies and gave the company a “buy” rating in a research report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $30.00.

Shares of NYSE JMIA opened at $6.74 on Wednesday. The firm has a 50-day simple moving average of $8.91. The firm has a market capitalization of $514.04 million and a PE ratio of -1.68. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.42 and a quick ratio of 3.30. Jumia Technologies has a 52 week low of $5.92 and a 52 week high of $49.77.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Baillie Gifford & Co. purchased a new stake in shares of Jumia Technologies in the second quarter valued at about $237,842,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Jumia Technologies during the second quarter worth about $28,108,000. Morgan Stanley purchased a new position in Jumia Technologies during the second quarter worth about $9,705,000. Schroder Investment Management Group purchased a new position in Jumia Technologies during the second quarter worth about $9,682,000. Finally, Summit Partners L P purchased a new position in Jumia Technologies during the second quarter worth about $7,309,000. 18.36% of the stock is owned by hedge funds and other institutional investors.

About Jumia Technologies

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.

Recommended Story: Monthly Dividend Stocks Can Provide Solid Income

Get a free copy of the Zacks research report on Jumia Technologies (JMIA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Jumia Technologies (NYSE:JMIA)

Receive News & Ratings for Jumia Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Jumia Technologies and related companies with MarketBeat.com's FREE daily email newsletter.