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

Jumia Technologies (NYSE:JMIA) had its price objective reduced by Royal Bank of Canada from $5.00 to $4.75 in a report issued on Friday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price suggests a potential upside of 68.74% from the company’s previous close.

Jumia Technologies Price Performance

Shares of JMIA traded down $0.01 during mid-day trading on Friday, reaching $2.82. The company had a trading volume of 4,787,907 shares, compared to its average volume of 3,359,603. The firm has a fifty day simple moving average of $3.97 and a 200-day simple moving average of $4.47. Jumia Technologies has a fifty-two week low of $2.69 and a fifty-two week high of $15.04. The company has a quick ratio of 1.73, a current ratio of 1.80 and a debt-to-equity ratio of 0.07.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in Jumia Technologies by 98.9% in the fourth quarter. Signaturefd LLC now owns 6,809 shares of the company’s stock valued at $26,000 after buying an additional 3,385 shares during the period. Blue Trust Inc. raised its stake in shares of Jumia Technologies by 148.4% during the fourth quarter. Blue Trust Inc. now owns 7,072 shares of the company’s stock valued at $27,000 after purchasing an additional 4,225 shares during the period. Scotia Capital Inc. purchased a new stake in shares of Jumia Technologies during the fourth quarter valued at approximately $38,000. Crumly & Associates Inc. purchased a new stake in shares of Jumia Technologies during the third quarter valued at approximately $55,000. Finally, Wrapmanager Inc. purchased a new stake in shares of Jumia Technologies during the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 16.50% of the company’s stock.

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.