Royal Bank of Canada Issues Pessimistic Forecast for Jumia Technologies (NYSE:JMIA) Stock Price

Jumia Technologies (NYSE:JMIA) had its target price reduced by research analysts at Royal Bank of Canada from $5.00 to $4.75 in a report released on Friday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 72.41% from the company’s current price.

Jumia Technologies Stock Down 2.3 %

NYSE:JMIA opened at $2.76 on Friday. Jumia Technologies has a 1 year low of $2.69 and a 1 year high of $15.04. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.80 and a quick ratio of 1.73. The stock has a 50-day moving average price of $3.94 and a two-hundred day moving average price of $4.41.

Jumia Technologies (NYSE:JMIA) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($999.00) earnings per share for the quarter. The firm had revenue of $45.69 million for the quarter. Jumia Technologies had a negative return on equity of 174.93% and a negative net margin of 59.16%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets boosted its position in shares of Jumia Technologies by 802.4% during the third quarter. BNP Paribas Financial Markets now owns 2,413,574 shares of the company’s stock worth $12,888,000 after buying an additional 2,146,114 shares during the period. RWC Asset Management LLP raised its holdings in Jumia Technologies by 235.0% during the fourth quarter. RWC Asset Management LLP now owns 1,473,192 shares of the company’s stock worth $5,628,000 after acquiring an additional 1,033,457 shares in the last quarter. Marshall Wace LLP raised its holdings in Jumia Technologies by 180.5% during the fourth quarter. Marshall Wace LLP now owns 1,023,405 shares of the company’s stock worth $3,909,000 after acquiring an additional 658,618 shares in the last quarter. 683 Capital Management LLC bought a new stake in Jumia Technologies during the fourth quarter worth about $3,384,000. Finally, JPMorgan Chase & Co. raised its holdings in Jumia Technologies by 120,393.4% during the third quarter. JPMorgan Chase & Co. now owns 730,190 shares of the company’s stock worth $3,899,000 after acquiring an additional 729,584 shares in the last quarter. 16.50% of the stock is owned by institutional investors and hedge funds.

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.