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

Jumia Technologies (NYSE:JMIA - Get Free Report) had its target price lowered by Royal Bank of Canada from $5.00 to $4.75 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "sector perform" rating on the stock. Royal Bank of Canada's target price would indicate a potential upside of 84.47% from the stock's previous close.

Jumia Technologies Price Performance

JMIA traded down $0.14 during trading on Friday, hitting $2.58. 4,829,897 shares of the company's stock were exchanged, compared to its average volume of 3,562,429. Jumia Technologies has a 1 year low of $2.54 and a 1 year high of $15.04. The stock has a 50 day moving average price of $3.90 and a 200 day moving average price of $4.39. 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 (NYSE:JMIA - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($999.00) earnings per share for the quarter. Jumia Technologies had a negative return on equity of 174.93% and a negative net margin of 59.16%. The business had revenue of $45.69 million for the quarter.

Institutional Investors Weigh In On Jumia Technologies

Hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its position in Jumia Technologies by 98.9% in the fourth quarter. Signaturefd LLC now owns 6,809 shares of the company's stock valued at $26,000 after acquiring an additional 3,385 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Jumia Technologies by 148.4% in the fourth quarter. Blue Trust Inc. now owns 7,072 shares of the company's stock valued at $27,000 after purchasing an additional 4,225 shares during the period. Scotia Capital Inc. purchased a new position in shares of Jumia Technologies in the fourth quarter valued at $38,000. Crumly & Associates Inc. acquired a new stake in Jumia Technologies during the 3rd quarter valued at $55,000. Finally, Wrapmanager Inc. purchased a new stake in Jumia Technologies during the 3rd quarter worth $58,000. 16.50% of the stock is currently owned by hedge funds and other institutional investors.

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.