Royal Bank of Canada Lowers Jumia Technologies (NYSE:JMIA) Price Target to $4.75

Jumia Technologies (NYSE:JMIA) had its price target reduced by Royal Bank of Canada from $5.00 to $4.75 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 68.74% from the company’s current price.

Jumia Technologies Stock Performance

Shares of JMIA traded down $0.01 during mid-day trading on Friday, hitting $2.82. 4,787,907 shares of the company’s stock were exchanged, compared to its average volume of 3,359,603. Jumia Technologies has a fifty-two week low of $2.69 and a fifty-two week high of $15.04. The business’s 50 day moving average is $3.97 and its two-hundred day moving average is $4.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.80 and a quick ratio of 1.73.

Jumia Technologies (NYSE:JMIA) last announced its earnings results on Thursday, February 20th. The company reported ($999.00) earnings per share for the quarter. Jumia Technologies had a negative return on equity of 161.08% and a negative net margin of 53.64%. The business had revenue of $45.69 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in JMIA. Bleakley Financial Group LLC purchased a new position in shares of Jumia Technologies during the 3rd quarter worth approximately $84,000. International Assets Investment Management LLC increased its stake in shares of Jumia Technologies by 685.9% during the 3rd quarter. International Assets Investment Management LLC now owns 145,782 shares of the company’s stock worth $778,000 after purchasing an additional 127,232 shares in the last quarter. Diversify Advisory Services LLC purchased a new position in shares of Jumia Technologies during the 3rd quarter worth approximately $68,000. QRG Capital Management Inc. purchased a new position in shares of Jumia Technologies during the 3rd quarter worth approximately $136,000. Finally, Crumly & Associates Inc. purchased a new position in shares of Jumia Technologies during the 3rd quarter worth approximately $55,000. 16.50% of the stock is owned by hedge funds and other institutional investors.

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.