Zacks Investment Research Lowers Jumia Technologies (NYSE:JMIA) to Sell

Zacks Investment Research lowered shares of Jumia Technologies (NYSE:JMIA) from a hold rating to a sell rating in a report released on Wednesday, reports.

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. “

A number of other research firms have also commented on JMIA. Raymond James reiterated a sell rating on shares of Inter Pipeline in a report on Tuesday, May 14th. Morgan Stanley set a $61.00 price objective on shares of Walgreens Boots Alliance and gave the company a hold rating in a research report on Tuesday, May 14th. Citigroup raised shares of China Petroleum & Chemical from a neutral rating to a buy rating in a research report on Tuesday, May 14th. Royal Bank of Canada cut their price objective on shares of Toromont Industries from C$66.00 to C$65.00 and set a sector perform rating on the stock in a research report on Monday, May 6th. Finally, Stifel Nicolaus assumed coverage on shares of Elastic in a research report on Monday, May 13th. They set a hold rating and a $75.00 price objective on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $37.33.

JMIA stock opened at $24.54 on Wednesday. Jumia Technologies has a one year low of $18.13 and a one year high of $49.77. The business has a 50 day moving average of $25.05.

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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