Jumia Technologies Shares Surge After Benchmark's Buy Rating, $14 Price Target, Up 8-11%

Jumia Technologies (JMIA) shares are experiencing significant gains following Benchmark's initiation of coverage with a Buy rating and a $14 price target. The stock has seen a notable increase in trading activity, with shares rising to $11.95 from $11.03, up 8-11%. Jumia, known as the largest e-commerce platform in Africa, reported a 57% revenue growth and positive operating cash flows. The company's market capitalization stands at $1.1 billion, with some analysts speculating it could reach $10 billion in the next decade.