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Here's Why Jumia Technologies (JMIA) Gained But Lagged the Market Today
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Jumia Technologies (JMIA - Free Report) ended the recent trading session at $3.84, demonstrating a +0.52% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.61%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.28%.
Shares of the company witnessed a loss of 9.48% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 2.32% and the S&P 500's gain of 2.08%.
Market participants will be closely following the financial results of Jumia Technologies in its upcoming release.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Jumia Technologies. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Jumia Technologies is carrying a Zacks Rank of #3 (Hold).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 75, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Here's Why Jumia Technologies (JMIA) Gained But Lagged the Market Today
Jumia Technologies (JMIA - Free Report) ended the recent trading session at $3.84, demonstrating a +0.52% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.61%. Meanwhile, the Dow experienced a rise of 0.3%, and the technology-dominated Nasdaq saw an increase of 1.28%.
Shares of the company witnessed a loss of 9.48% over the previous month, trailing the performance of the Retail-Wholesale sector with its gain of 2.32% and the S&P 500's gain of 2.08%.
Market participants will be closely following the financial results of Jumia Technologies in its upcoming release.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Jumia Technologies. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Jumia Technologies is carrying a Zacks Rank of #3 (Hold).
The Internet - Commerce industry is part of the Retail-Wholesale sector. This industry, currently bearing a Zacks Industry Rank of 75, finds itself in the top 30% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.