Jumia Technologies’ (NYSE:JMIA) quiet period will expire on Wednesday, May 22nd. Jumia Technologies had issued 13,500,000 shares in its public offering on April 12th. The total size of the offering was $195,750,000 based on an initial share price of $14.50. During Jumia Technologies’ quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of brokerages recently weighed in on JMIA. Berenberg Bank raised shares of Jumia Technologies from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Tuesday. Raymond James initiated coverage on shares of Jumia Technologies in a report on Tuesday, May 7th. They issued a “market perform” rating and a $37.72 price objective on the stock. Stifel Nicolaus upgraded shares of Jumia Technologies from a “hold” rating to a “buy” rating in a report on Monday. Royal Bank of Canada initiated coverage on shares of Jumia Technologies in a report on Monday, May 6th. They issued a “sector perform” rating and a $40.00 price objective on the stock. Finally, Citigroup initiated coverage on shares of Jumia Technologies in a report on Monday, May 6th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $37.33.
Shares of JMIA stock opened at $25.60 on Wednesday. Jumia Technologies has a 12 month low of $18.13 and a 12 month high of $49.77.
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About Jumia Technologies
Jumia Technologies AG operates an e-commerce platform in Africa. The company's platform consists of marketplace, which connects sellers with consumers; logistics service that enables the shipment and delivery of packages from sellers to consumers; and payment service, which facilitates transactions to participants active on the company's platform in selected markets.
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