Jumia Technologies (NYSE:JMIA) Stock Price Down 4.7%

Jumia Technologies AG – (NYSE:JMIA)’s stock price fell 4.7% during mid-day trading on Tuesday . The company traded as low as $14.02 and last traded at $13.89, 13,978 shares changed hands during mid-day trading. A decline of 98% from the average session volume of 635,642 shares. The stock had previously closed at $14.57.

A number of research firms have issued reports on JMIA. Stifel Nicolaus raised Jumia Technologies from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Raymond James raised Jumia Technologies from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Tuesday, May 14th. They noted that the move was a valuation call. Royal Bank of Canada began coverage on Jumia Technologies in a research note on Monday, May 6th. They issued a “sector perform” rating and a $40.00 price objective on the stock. William Blair began coverage on Jumia Technologies in a research note on Tuesday, May 7th. They issued a “market perform” rating on the stock. Finally, Morgan Stanley reduced their price objective on Jumia Technologies from $27.00 to $22.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $37.33.

The firm has a fifty day moving average of $22.75.

Several institutional investors have recently made changes to their positions in JMIA. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Jumia Technologies in the 2nd quarter worth approximately $28,108,000. Summit Partners L P purchased a new position in shares of Jumia Technologies in the 2nd quarter worth approximately $7,309,000. ARK Investment Management LLC purchased a new position in shares of Jumia Technologies in the 2nd quarter worth approximately $7,210,000. Wells Fargo & Company MN purchased a new position in shares of Jumia Technologies in the 2nd quarter worth approximately $4,210,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Jumia Technologies in the 2nd quarter worth approximately $701,000. Hedge funds and other institutional investors own 1.43% of the company’s stock.

About Jumia Technologies (NYSE:JMIA)

Jumia Technologies AG operates an e-commerce platform in Africa. The company's platform consists of marketplace, which 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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