Stifel analyst Scott Devitt lowered the firm's price target on Jumia Technologies to $8 from $10 and keeps a Buy rating on the shares. The company during Q4 engaged in a number of initiatives to drive profitability including exiting some underperforming markets and business lines and reducing promotional activity on certain product categories, Devitt tells investors in a post-earnings research note titled "Long, Winding Path Ahead." The result was gross merchandise growth significantly below expectations and the 20%-30% outlook discussed last quarter, adds the analyst. However, Devitt sees some encouraging aspects in today's results, including "healthy" active customer and its payments continuing to gain traction.