Jumia Technologies (NYSE:JMIA) Coverage Initiated at Royal Bank of Canada

Stock analysts at Royal Bank of Canada started coverage on shares of Jumia Technologies (NYSE:JMIA) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a “sector perform” rating and a $5.00 price target on the stock. Royal Bank of Canada’s price objective points to a potential upside of 24.69% from the company’s current price.

Separately, Benchmark lowered their target price on shares of Jumia Technologies from $14.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, August 7th.

Jumia Technologies Stock Down 0.2 %

Shares of NYSE JMIA opened at $4.01 on Wednesday. Jumia Technologies has a 52 week low of $2.46 and a 52 week high of $15.04. The stock has a 50 day moving average price of $4.82 and a 200 day moving average price of $6.68. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.80 and a quick ratio of 1.73.

Hedge Funds Weigh In On Jumia Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Crumly & Associates Inc. acquired a new stake in shares of Jumia Technologies during the 3rd quarter worth about $55,000. The Manufacturers Life Insurance Company acquired a new stake in Jumia Technologies during the second quarter worth approximately $74,000. Boston Standard Wealth Management LLC bought a new stake in shares of Jumia Technologies during the second quarter worth approximately $75,000. Wrapmanager Inc. acquired a new position in shares of Jumia Technologies in the third quarter valued at approximately $58,000. Finally, RFG Advisory LLC increased its stake in shares of Jumia Technologies by 13.6% during the second quarter. RFG Advisory LLC now owns 12,500 shares of the company’s stock worth $88,000 after purchasing an additional 1,500 shares during the period. 16.50% of the stock is currently owned by institutional investors and hedge funds.

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.