Every week, Benzinga conducts a sentiment survey to find out what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.

We surveyed a group of over 500 investors on whether shares of Jumia Technologies AG - ADR (NASDAQ:JMIA) will reach $100 by 2022. 

Jumia Stock Forecast

Jumia Technologies is a pan-African e-commerce platform that connects sellers with consumers. It includes a logistics service for shipping and delivering packages from sellers to consumers. The company also has a payment service for transactions among participants in selected markets.

Jumia directly provides more than 5,000 jobs and many more through the sellers and logistics partnerships. 

In a case for future growth, research by Jumia suggests less than 1% e-commerce penetration in Africa versus 12% in the U.S. and 20% in China.

Jumia's stock was trading as low as $2.15 in early 2020 and was valued at a few hundred million dollars. After an explosion of growth amid the pandemic, Jumia now trades at around $59 with a market cap of $4.62 billion dollars.

It can be said Jumia seeks to become the Amazon.com Inc (NASDAQ:AMZN) of Africa, as the firm attempts to achieve market penetration within Africa similar to that of the FAANG giant.

Our study revealed 74% of Benzinga traders and investors think Jumia will reach $100 per share by the end of next year.

Traders and investors who participated in our study believe shares of Jumia will continue to grow off an increased desire to receive goods via e-commerce delivery services across the African continent, as well as a shared belief that Jumia will eventually be viewed as a tech company first and foremost, and an e-commerce service provider second.

See Also: Best Tech Stocks.

This survey was conducted by Benzinga in January 2021 and included the responses of a diverse population of adults 18 or older.

Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 500 adults.

Photo courtesy Jumia.