Analyst Explains Why They Downgraded Their Rating on Jumia Technologies AG (JMIA)


In a report released today, Scott Devitt from Stifel Nicolaus downgraded Jumia Technologies AG (JMIA) to Hold, with a price target of $4.50. The company’s shares closed last Wednesday at $4.21, close to its 52-week low of $2.15.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 21.1% and a 68.2% success rate. Devitt covers the Technology sector, focusing on stocks such as Uber Technologies, Mercadolibre, and Eventbrite.

Jumia Technologies AG has an analyst consensus of Hold, with a price target consensus of $5.70.

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Based on Jumia Technologies AG’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $49.28 million and GAAP net loss of $63.46 million. In comparison, last year the company earned revenue of $42.29 million and had a GAAP net loss of $54.64 million.

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Jumia Technologies AG engages in the provision of logistic services. It operates though e-Commerce platform segment. The e-Commerce platform segment consists marketplace, which connects sellers with consumers to its logistics service, which enables the shipment and delivery of packages from sellers to consumers, and payment service, which facilitates transactions among participants active on platform in selected markets. The company was founded on June 26, 2012 and is headquartered in Berlin, Germany.

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