Investors interested in Retail-Wholesale stocks should always be looking to find the best-performing companies in the group. Has Jumia Technologies (JMIA) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Jumia Technologies is one of 219 individual stocks in the Retail-Wholesale sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Jumia Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for JMIA's full-year earnings has moved 7.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that JMIA has returned about 11.2% since the start of the calendar year. At the same time, Retail-Wholesale stocks have gained an average of 10%. As we can see, Jumia Technologies is performing better than its sector in the calendar year.
MercadoLibre (MELI) is another Retail-Wholesale stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 42.8%.
In MercadoLibre's case, the consensus EPS estimate for the current year increased 4.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Jumia Technologies belongs to the Internet - Commerce industry, a group that includes 40 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, stocks in this group have gained 25.4% this year, meaning that JMIA is slightly underperforming its industry in terms of year-to-date returns. MercadoLibre is also part of the same industry.
Jumia Technologies and MercadoLibre could continue their solid performance, so investors interested in Retail-Wholesale stocks should continue to pay close attention to these stocks.
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