Jumia Technologies (NYSE:JMIA) Releases Earnings Results

Jumia Technologies (NYSE:JMIA) announced its earnings results on Wednesday. The company reported ($999.00) earnings per share (EPS) for the quarter, Zacks reports. Jumia Technologies had a negative net margin of 42.52% and a negative return on equity of 89.98%. The company had revenue of $45.63 million for the quarter.

Jumia Technologies Price Performance

Shares of JMIA stock traded up $0.04 during trading hours on Thursday, hitting $10.18. 2,779,699 shares of the company were exchanged, compared to its average volume of 3,506,349. The company has a current ratio of 1.38, a quick ratio of 1.28 and a debt-to-equity ratio of 0.15. The firm has a fifty day simple moving average of $11.09 and a 200 day simple moving average of $6.83. Jumia Technologies has a 52-week low of $1.60 and a 52-week high of $13.14.

Hedge Funds Weigh In On Jumia Technologies

Several large investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Jumia Technologies by 40.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 66,172 shares of the company’s stock worth $142,000 after buying an additional 19,072 shares in the last quarter. Cetera Investment Advisers increased its holdings in Jumia Technologies by 23.9% during the 2nd quarter. Cetera Investment Advisers now owns 25,857 shares of the company’s stock worth $104,000 after acquiring an additional 4,995 shares during the period. JPMorgan Chase & Co. lifted its stake in Jumia Technologies by 58,116.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 224,714 shares of the company’s stock worth $903,000 after purchasing an additional 224,328 shares in the last quarter. XTX Topco Ltd purchased a new stake in Jumia Technologies in the 2nd quarter worth approximately $91,000. Finally, The Manufacturers Life Insurance Company bought a new position in Jumia Technologies in the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 16.50% of the company’s stock.

Analysts Set New Price Targets

JMIA has been the topic of several recent analyst reports. Royal Bank Of Canada upgraded Jumia Technologies from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $6.50 to $15.00 in a research note on Tuesday, September 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Jumia Technologies in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Jumia Technologies currently has a consensus rating of “Hold” and an average price target of $15.00.

About Jumia Technologies

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.