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JMIA

Jumia Technologies

$12.43

-2.26 (-15.38%)

13:47
08/21/19
08/21
13:47
08/21/19
13:47

Jumia's report doesn't alter Stifel view that 'best days' still to come

Stifel analyst Scott Devitt said Jumia reported "mixed" Q2 results, including gross merchandise volume growth of 69% that was "strong" although it was below expectations. Year-over-year revenue growth of 58% was also slightly below his expectations, but Jumia "continued on its gradual path to profitability," said Devitt. Regarding the company's findings from a review of several JForce agents involved in improper sales practices in Nigeria as well as improper orders that were placed through the JForce program, Devitt said the impact from these inappropriate activities is relatively small and "better-than-feared," adding that fraudulent activity in non-developed markets is "something all marketplaces deal with." He still sees Jumia's long-term opportunity as highly attractive and "nothing in today's report changes our view," stated Devitt, who keeps a Buy rating on the stock. However, he trimmed his price target on Jumia shares to $28 from $34.

  • 21

    Aug

JMIA Jumia Technologies
$12.43

-2.26 (-15.38%)

05/14/19
05/14/19
UPGRADE
Target $36

Outperform
Jumia Technologies upgraded to Outperform on growth, valuation at Raymond James
As previously reported, Raymond James upgraded Jumia Technologies to Outperform from Market Perform and established a $36 price target following the strong Q1 report. Analyst Aaron Kessler believes the recent share declines provides a buying opportunity and expects strong GMV growth and margin improvement to continue. The analyst views Jumia as a leading pan-African eCommerce marketplace, expects robust growth to continue, and sees significant potential core strength in payments and other services.
05/14/19
SBSH
05/14/19
NO CHANGE
Target $30
SBSH
Neutral
Jumia Technologies price target lowered to $30 from $41 at Citi
Citi analyst Andrew Howell lowered his price target for Jumia Technologies to $30 from $41 saying that while the company reported "strong" Q1 results, operating expenses came in higher than he expected. Further, on the results call, management did not formally address the allegations raised by Citron Research last week, Howell tells investors in a research note. However, the analyst believes Jumia's progress towards growth and profitability targets is far more important than these allegations. Nonetheless, Howell thinks it may take some time for investor confidence to be restored. As such, he would welcome a more public response from the company in addressing the allegations. The analyst keeps a Neutral rating on Jumia Technologies.
08/20/19
MSCO
08/20/19
UPGRADE
MSCO
Equal Weight
Jumia Technologies upgraded to Equal Weight from Underweight at Morgan Stanley
Morgan Stanley analyst Brian Nowak upgraded Jumia Technologies to Equal Weight from Underweight.
08/20/19
MSCO
08/20/19
UPGRADE
Target $13
MSCO
Equal Weight
Morgan Stanley upgrades Jumia to Equal Weight, cuts price target to $13
As previously reported, Morgan Stanley analyst Brian Nowak upgraded Jumia Technologies (JMIA) to Equal Weight from Underweight, noting that the stock has fallen about 50% since the company's Q1 earnings report in mid-May. Valuing Jumia based on his estimate of 2024 adjusted gross profit, and using a multiple that is a 60% discount to Amazon (AMZN), yields a $13 price target on the shares, down from him prior target of $22. He also reduced his bull case for the stock price to $26 from $51 given estimates that are 5 years away, execution uncertainty, macro uncertainty and the company's lower profitability and smaller scale compared to peers.

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