Jumia Technologies (NYSE:JMIA) Raised to “Equal Weight” at Morgan Stanley

Morgan Stanley upgraded shares of Jumia Technologies (NYSE:JMIA) from an underweight rating to an equal weight rating in a research report released on Tuesday morning, BenzingaRatingsTable reports. The firm currently has $13.00 target price on the stock, down from their previous target price of $22.00.

JMIA has been the topic of a number of other research reports. Stifel Nicolaus upgraded shares of Jumia Technologies from a hold rating to a buy rating in a research note on Monday, May 13th. Raymond James upgraded shares of 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. Zacks Investment Research lowered shares of Jumia Technologies from a hold rating to a sell rating in a research note on Wednesday, July 10th. Berenberg Bank upgraded shares of Jumia Technologies from a hold rating to a buy rating and set a $45.00 price objective on the stock in a research note on Tuesday, May 14th. Finally, Royal Bank of Canada initiated coverage on shares of 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $30.00.

NYSE:JMIA opened at $13.31 on Tuesday. Jumia Technologies has a 1-year low of $11.30 and a 1-year high of $49.77. The business has a fifty day simple moving average of $18.79.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. purchased a new stake in Jumia Technologies during the second quarter worth $237,842,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Jumia Technologies during the second quarter worth $28,108,000. Morgan Stanley purchased a new stake in Jumia Technologies during the second quarter worth $9,705,000. Schroder Investment Management Group purchased a new stake in Jumia Technologies during the second quarter worth $9,682,000. Finally, Summit Partners L P purchased a new stake in Jumia Technologies during the second quarter worth $7,309,000. 15.24% 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 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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Analyst Recommendations for Jumia Technologies (NYSE:JMIA)

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