One stock that is absolutely tearing it up today is Jumia Technologies (NYSE:JMIA). JMIA stock is currently up 30%, surging on some rather impressive news.
As fellow InvestorPlace contributor William White pointed out in a recent piece, it’s a company-specific catalyst that is driving most of this attention today. Specifically, the announced deal between United Parcel Service (NYSE:UPS) and Jumia to improve the company’s e-commerce business in Africa has investors on watch.
This deal is one that appears to benefit both companies. The goal for UPS will be to expand its last-mile delivery operations in Africa. For Jumia, offloading much of these responsibilities to a third party can help the company grow. It’s a win-win partnership unlike many often seen in the marketplace.
Accordingly, it’s not just retail investors that are taking note of this move. Various analysts are likely to adjust their price targets on this news.
Let’s see where the analysts sit on Jumia Technologies, at last count. It should be noted that these most-recent analyst price targets came in one month to 11 months prior to this announcement.
What Analysts Think of JMIA Stock
For context, JMIA stock currently trades at $12.30 per share.
- Stifel analyst Lamont Williams reiterated a “hold” rating, with an $11 price target for shares of JMIA.
- Luke Holbrook of Morgan Stanley downgraded JMIA stock to a “sell,” with the same price target of $11 per share.
- Finally, Kirill Panarin of Renaissance gave JMIA stock a “hold” rating with a $21 price target. This rating was from a year ago, and is likely to be adjusted moving forward.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
