Cantor Fitzgerald lowers Jumia stock price target on macro concerns
Cantor Fitzgerald cut Jumia's (JMIA) price target to $9 from $11, citing macro concerns and fuel cost increases in Africa. JMIA shares are down 53% YTD, trading at $5.83. Q2 revenue was $52M, below estimates but up 14% YoY, with gross profit rising 28%. The company raised $50M to strengthen its financial position and adjusted GMV growth guidance to 20-30%.


