The stock of Jumia Technologies AG (NYSE:JMIA) is now priced at $9.19 and the shares are -0.32 points down or -3.36% lower compared to its previous closing price of $9.51. The stock had 4.526 million contracts set over the past session. JMIA shares’ daily volume is compared to its average trading volume at 8.953 million shares. However, it has a float of 6.75 million and although its performance was -11.21% over the week, it’s one to watch. Analysts have given the JMIA stock a yearly average price target of $12.53 per share. It means the stock’s upside potential is 36.34% with the JMIA share price recently placing at $8.76 to $9.55. However, some brokerage firms have priced the stock below the average, including one that has called $€6.78.
The shorts are running away from the Jumia Technologies AG stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the JMIA shares have declined. Short interest in the stock represents just 0% of its float, but the volume has dropped by 0.
In the last trading session, Jumia Technologies AG (NYSE:JMIA) dropped by -$1.16 over the week and lost -$11.81 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $23.9. The stock recorded its established 52-week high on 08/04/20.
Since 03/18/20, the stock has traded to a low of $2.15 at 327.44%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, Jumia Technologies AG’s two-week RSI is 42.09. This suggests that the stock is neutral at the moment and that JMIA shares’ price movement remains stable. The stochastic readings are equally revealing at 5.37% meaning the JMIA share price is currently in overbought territory.
The technical chart shows that the JMIA stock will likely settle at between $9.57 and $9.96 per share. However, if the stock dips below $8.78, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $8.38.
Currently, the stock is trading in the red of MACD, with a reading of -0.8. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Stifel cut their recommendation for JMIA from Buy to Hold in May 14 review while maintai their target price of $8 to $4.50. Berenberg analysts downgraded their recommendation of the stock from Buy to Hold in a flash note released to investors on March 25. RBC Capital Mkts seeing the improvements upgraded the stock from Sector Perform to Outperform on August 22.
The average rating for the JMIA equity is 3 and is currently gathering a bullish momentum. Of 8 analysts tracking Jumia Technologies AG polled by Reuters, 6 rated JMIA as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 69.7. Jumia Technologies AG has its P/E ratio at 5.6, which means that the stock is currently trading at a discount relative to the 15.3 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Jumia Technologies AG (NYSE:JMIA) will decrease by about -99.89%, which will see them reach $41.64 million. The company’s full-year revenues are, however, expected to increase by about 2.34%, up from $178 million to $182 million. JMIA’s expected adjusted earnings should surge almost 10.77% to end up at -$0.72 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 27.89% to record -$2.43/share.