Stifel analyst Scott Devitt, in a note to investors partially titled "Been Wrong; Still Good Opportunity But Super Early," said he may have underestimated the complexity and time needed to scale Jumia Technologies' business. While he lowered his price target for Jumia shares to $14 from $28 to reflect greater than previously assessed risk associated with the slow pace of development, Devitt keeps a Buy rating on the stock as he still sees a long term growth opportunity and thinks concerns are reflected in the stock following its substantial decline since the company's last earnings report. Jumia next reports earnings on Tuesday, November 12, noted Devitt.