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JMIA

Jumia Technologies

$6.32

-0.1 (-1.56%)

09:15
11/04/19
11/04
09:15
11/04/19
09:15

Stifel admits to having 'been wrong' on Jumia, halves target but keeps at Buy

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.

  • 12

    Nov

  • 19

    Nov

  • 09

    Dec

JMIA Jumia Technologies
$6.32

-0.1 (-1.56%)

08/21/19
STFL
08/21/19
NO CHANGE
Target $28
STFL
Buy
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.
08/21/19
RBCM
08/21/19
UPGRADE
Target $30
RBCM
Outperform
Jumia Technologies upgraded to Outperform from Sector Perform at RBC Capital
RBC Capital analyst Mark Mahaney upgraded Jumia Technologies to Outperform but lowered his price target to $30 from $40.
08/21/19
08/21/19
UPGRADE
Target $30

Outperform
Jumia Technologies upgraded to Outperform at RBC Capital on attractive valuation
As previously reported, RBC Capital analyst Mark Mahaney upgraded Jumia Technologies to Outperform but lowered his price target to $30 from $40. The analyst notes the company's Q2 results were mixed with above-consensus gross merchandise volume and accelerating active customer growth but with less than expected EBITDA. Mahaney adds that while the stock price declined by over 16% after today's report, the company's fundamental trends were overall positive. Given the improving fundamentals and "robust growth potential", the analyst sees the valuation on Jumia shares as "attractive".
08/22/19
RAJA
08/22/19
NO CHANGE
Target $23
RAJA
Outperform
Jumia Technologies price target lowered to $23 from $36 at Raymond James
Raymond James analyst Aaron Kessler lowered his price target for Jumia Technologies to $23 from $36 but maintained an Outperform rating following the company's "mixed" second quarter results. In a research note to investors, Kessler says that while results were softer than anticipated, he maintains a positive outlook on shares and expects robust eCommerce growth in Africa. He also feels Jumia has significant potential beyond its core marketplaces including payments and other services.

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