Jumia Technologies (NYSE:JMIA) Upgraded to “Buy” at Zacks Investment Research

Jumia Technologies (NYSE:JMIAGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, Zacks.com reports. The brokerage presently has a $7.50 price target on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 2.88% from the stock’s previous close.

According to Zacks, “Jumia Technologies AG provides e-commerce services. The Company offers products, which includes dresses, leggings, skirts, polo shirts, belts, watches, sunglasses, health products, beauty products and a range of products for children, among others. Jumia Technologies AG is based in Berlin, Germany. “

Separately, Stifel Nicolaus decreased their target price on shares of Jumia Technologies from $11.00 to $9.00 in a research report on Wednesday, May 18th.

NYSE:JMIA traded up $0.59 during trading hours on Friday, reaching $7.29. The company’s stock had a trading volume of 5,034,842 shares, compared to its average volume of 5,189,067. The firm has a 50-day simple moving average of $7.89 and a 200-day simple moving average of $9.67. Jumia Technologies has a 1 year low of $4.47 and a 1 year high of $33.87. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.20 and a quick ratio of 3.51.

A number of institutional investors have recently made changes to their positions in JMIA. Spire Wealth Management raised its holdings in Jumia Technologies by 432.1% in the fourth quarter. Spire Wealth Management now owns 2,586 shares of the company’s stock worth $29,000 after buying an additional 2,100 shares during the last quarter. FinTrust Capital Advisors LLC grew its position in Jumia Technologies by 73.7% during the third quarter. FinTrust Capital Advisors LLC now owns 1,767 shares of the company’s stock valued at $33,000 after buying an additional 750 shares during the period. Exchange Traded Concepts LLC grew its position in Jumia Technologies by 1,979.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 2,869 shares of the company’s stock valued at $33,000 after buying an additional 2,731 shares during the period. Fairfield Bush & CO. bought a new position in shares of Jumia Technologies in the first quarter worth approximately $66,000. Finally, Sterling Investment Advisors Ltd. boosted its position in shares of Jumia Technologies by 15,950.0% in the fourth quarter. Sterling Investment Advisors Ltd. now owns 8,025 shares of the company’s stock worth $91,000 after purchasing an additional 7,975 shares during the period. 37.98% of the stock is currently owned by institutional investors and hedge funds.

About Jumia Technologies (Get Rating)

Jumia Technologies AG operates an e-commerce platform in Africa, Portugal, Germany, and the United Arab Emirates. The company's platform consists of marketplace that connects sellers with consumers; logistics service that 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.

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