Royal Bank of Canada Begins Coverage on Jumia Technologies (NYSE:JMIA)

Equities research analysts at Royal Bank of Canada initiated coverage on shares of Jumia Technologies (NYSE:JMIA) in a note issued to investors 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 target indicates a potential upside of 34.95% from the stock’s current price.

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

Jumia Technologies Stock Performance

Shares of JMIA opened at $3.71 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.80 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $4.80 and a two-hundred day moving average of $6.65. Jumia Technologies has a one year low of $2.59 and a one year high of $15.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in JMIA. RFG Advisory LLC lifted its holdings in Jumia Technologies by 13.6% in the second quarter. RFG Advisory LLC now owns 12,500 shares of the company’s stock valued at $88,000 after acquiring an additional 1,500 shares during the period. Wealth Effects LLC boosted its holdings in Jumia Technologies by 4.1% during the second quarter. Wealth Effects LLC now owns 80,310 shares of the company’s stock worth $564,000 after buying an additional 3,200 shares in the last quarter. CWM LLC grew its position in Jumia Technologies by 8.1% during the second quarter. CWM LLC now owns 51,847 shares of the company’s stock valued at $364,000 after buying an additional 3,881 shares during the period. Boston Standard Wealth Management LLC increased its holdings in Jumia Technologies by 88.1% in the third quarter. Boston Standard Wealth Management LLC now owns 20,201 shares of the company’s stock valued at $108,000 after buying an additional 9,459 shares in the last quarter. Finally, Crumly & Associates Inc. acquired a new position in shares of Jumia Technologies in the third quarter worth about $55,000. 16.50% of the stock is currently 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.