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

Stock analysts at Royal Bank of Canada began coverage on shares of Jumia Technologies (NYSE:JMIA) in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The firm 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 34.95% from the stock’s previous close.

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

Jumia Technologies Trading Down 4.5 %

Jumia Technologies stock opened at $3.71 on Wednesday. The company’s fifty day moving average price is $4.80 and its 200 day moving average price is $6.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.80 and a quick ratio of 1.73. Jumia Technologies has a 1 year low of $2.59 and a 1 year high of $15.04.

Institutional Trading of Jumia Technologies

Institutional investors have recently made changes to their positions in the company. Crumly & Associates Inc. acquired a new position in Jumia Technologies in the 3rd quarter valued at $55,000. Wrapmanager Inc. acquired a new stake in shares of Jumia Technologies in the third quarter valued at about $58,000. Diversify Advisory Services LLC acquired a new stake in shares of Jumia Technologies in the third quarter valued at about $68,000. The Manufacturers Life Insurance Company purchased a new position in shares of Jumia Technologies in the second quarter worth about $74,000. Finally, Boston Standard Wealth Management LLC acquired a new position in Jumia Technologies during the second quarter worth about $75,000. 16.50% of the stock is 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.