Cantor Fitzgerald Has Lowered Expectations for Jumia Technologies (NYSE:JMIA) Stock Price

Jumia Technologies (NYSE:JMIA) had its price objective reduced by investment analysts at Cantor Fitzgerald from $11.00 to $9.00 in a report issued on Monday, Marketbeat.com reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would suggest a potential upside of 55.57% from the stock’s current price.

JMIA has been the topic of several other reports. Craig Hallum reiterated a “buy” rating and issued a $12.00 price objective on shares of Jumia Technologies in a research note on Thursday, August 13th. Royal Bank Of Canada decreased their target price on Jumia Technologies from $15.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, August 13th. Benchmark reissued a “buy” rating on shares of Jumia Technologies in a research note on Thursday, August 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Jumia Technologies in a research note on Thursday, October 15th. Finally, Wall Street Zen downgraded Jumia Technologies from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $14.00.

Jumia Technologies Trading Up 0.4%

NYSE:JMIA opened at $5.79 on Monday. Jumia Technologies has a fifty-two week low of $5.59 and a fifty-two week high of $14.72. The company has a quick ratio of 0.77, a current ratio of 0.88 and a debt-to-equity ratio of 25.80. The company has a 50 day moving average price of $6.74 and a 200 day moving average price of $6.83.

Hedge Funds Weigh In On Jumia Technologies

Institutional investors have recently modified their holdings of the business. Walleye Capital LLC grew its position in Jumia Technologies by 1,852.2% during the 1st quarter. Walleye Capital LLC now owns 254,053 shares of the company’s stock worth $1,753,000 after purchasing an additional 268,552 shares during the last quarter. Revisor Wealth Management LLC increased its stake in Jumia Technologies by 2.7% in the first quarter. Revisor Wealth Management LLC now owns 190,350 shares of the company’s stock valued at $1,313,000 after purchasing an additional 5,000 shares during the period. Cannell & Spears LLC increased its stake in Jumia Technologies by 142.5% in the first quarter. Cannell & Spears LLC now owns 97,000 shares of the company’s stock valued at $669,000 after purchasing an additional 57,000 shares during the period. Cetera Investment Advisers raised its holdings in shares of Jumia Technologies by 159.4% in the first quarter. Cetera Investment Advisers now owns 57,985 shares of the company’s stock valued at $400,000 after buying an additional 35,635 shares during the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of Jumia Technologies by 24.4% in the second quarter. RFG Advisory LLC now owns 38,528 shares of the company’s stock valued at $272,000 after buying an additional 7,559 shares during the last quarter. 16.50% of the stock is owned by institutional investors and hedge funds.

Jumia Technologies Company Profile

Jumia Technologies AG is an e-commerce company that operates an online marketplace serving consumers and merchants in Africa. Its platform connects customers with third-party sellers offering products such as electronics, mobile phones, fashion, beauty and personal-care items, home goods, groceries and other everyday merchandise.

The company also provides supporting services intended to facilitate online commerce, including delivery and logistics solutions for merchants and customers. Through JumiaPay, it has offered digital payment services and related financial technology solutions, although the availability and scope of these services may vary by market.

Founded in 2012, Jumia has historically expanded its operations across multiple African countries, including markets in North, West, East and Southern Africa.