Jumia Technologies AG (NYSE: JMIA) stock is surging 7.44% in pre-market trading on Wednesday, building on its impressive 49% gain over the past week. The latest jump comes on the heels of significant analyst upgrades and improved revenue forecasts, signaling growing investor confidence in the African e-commerce giant's future prospects.

Industry analysts have substantially raised their revenue projections for Jumia Technologies, with the new consensus for 2025 set at US$201 million. This represents a considerable 22% increase from the company's sales over the previous 12 months. Additionally, analysts expect Jumia's losses to narrow by 32%, reaching US$0.39 per share. These optimistic forecasts have prompted analysts to boost their price target for Jumia by 19% to €3.99.

The positive outlook extends beyond just financial metrics. Analysts predict that Jumia Technologies will outpace its industry peers, with an expected annualized growth rate of 50% through the end of 2025. This growth trajectory, coupled with the company's progress towards profitability, appears to be fueling the stock's momentum. As Jumia continues to make strides in the rapidly expanding African e-commerce market, investors seem increasingly bullish on its potential for long-term value creation.