Analysts at Rosenblatt Securities began coverage on shares of Nokia (NYSE:NOK – Get Free Report) in a note issued to investors on Tuesday, Benzinga reports. The brokerage set a “buy” rating and a $15.00 price target on the technology company’s stock. Rosenblatt Securities’ price objective would indicate a potential upside of 55.04% from the company’s previous close.
NOK has been the subject of several other research reports. Danske raised shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research note on Friday, September 4th. Northland Securities set a $20.00 target price on Nokia in a report on Wednesday, June 3rd. JPMorgan Chase & Co. boosted their price target on Nokia from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, June 12th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Nokia in a report on Friday, May 22nd. Thirteen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Nokia presently has a consensus rating of “Moderate Buy” and an average target price of $14.00.
Read Our Latest Analysis on NOK
Nokia Stock Performance
Nokia (NYSE:NOK – Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.57 billion. Nokia had a net margin of 3.49% and a return on equity of 9.83%. Nokia’s revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.04 EPS. Sell-side analysts anticipate that Nokia will post 0.39 EPS for the current fiscal year.
Institutional Investors Weigh In On Nokia
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. J2 Capital Management Inc raised its stake in Nokia by 2.0% during the 1st quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after buying an additional 1,319 shares during the last quarter. Syon Capital LLC lifted its holdings in shares of Nokia by 12.7% during the 2nd quarter. Syon Capital LLC now owns 11,730 shares of the technology company’s stock valued at $156,000 after buying an additional 1,321 shares during the period. Kathmere Capital Management LLC boosted its stake in shares of Nokia by 14.0% in the 1st quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock worth $97,000 after buying an additional 1,483 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Nokia by 12.1% in the first quarter. Assetmark Inc. now owns 14,704 shares of the technology company’s stock worth $118,000 after acquiring an additional 1,591 shares during the period. Finally, Truist Financial Corp increased its position in Nokia by 5.7% during the fourth quarter. Truist Financial Corp now owns 30,394 shares of the technology company’s stock valued at $197,000 after acquiring an additional 1,645 shares during the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.
About Nokia
Nokia Corporation is a Finland-based technology company that provides communications and networking equipment, software, and related services to telecommunications operators, enterprises, governments, and other organizations worldwide. Its offerings support the design, deployment, management, and modernization of fixed and mobile communications networks.
The company’s business includes mobile network infrastructure, radio access networks, core networks, cloud networking, broadband access, optical networking, IP routing, data-center networking, and network automation.
Featured Articles
- Five stocks we like better than Nokia
- 3 Defense Stocks Riding the High-Energy Laser Boom
- Analysts Are Punting Their Calls Into the Next Quarter After Adobe’s Mixed Earnings
- Institutional Money Is Pouring Into These 2 Altcoin ETFs
- The End of Big Tech Buybacks? Only One Hyperscaler Is Still Repurchasing Shares
Receive News & Ratings for Nokia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nokia and related companies with MarketBeat.com's FREE daily email newsletter.
