Nokia (NYSE:NOK) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Nokia (NYSE:NOK) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $14.00 to $21.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 40.70% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Nokia from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Nordea Equity Research raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Friday, April 24th. Barclays reissued an “underweight” rating on shares of Nokia in a research note on Wednesday, April 29th. Bank of America upgraded shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a research report on Monday, April 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Nokia in a research report on Tuesday. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.57.

Nokia Price Performance

Shares of NYSE NOK traded up $0.84 during mid-day trading on Friday, reaching $14.93. 50,674,414 shares of the company traded hands, compared to its average volume of 76,944,242. Nokia has a fifty-two week low of $4.00 and a fifty-two week high of $17.45. The firm has a market cap of $85.70 billion, a PE ratio of 93.06, a price-to-earnings-growth ratio of 2.60 and a beta of 1.15. The stock has a fifty day simple moving average of $12.59 and a 200-day simple moving average of $8.97. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.57 and a quick ratio of 1.32.

Nokia (NYSE:NOK) last released its earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share for the quarter. Nokia had a return on equity of 9.05% and a net margin of 4.02%.The firm had revenue of $5.21 billion during the quarter. Equities research analysts anticipate that Nokia will post 0.4 EPS for the current fiscal year.

Hedge Funds Weigh In On Nokia

Several institutional investors and hedge funds have recently modified their holdings of the stock. J2 Capital Management Inc boosted its position in Nokia by 2.0% during the first quarter. J2 Capital Management Inc now owns 68,204 shares of the technology company’s stock valued at $548,000 after purchasing an additional 1,319 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Nokia by 6.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 22,426 shares of the technology company’s stock valued at $145,000 after buying an additional 1,450 shares in the last quarter. Kathmere Capital Management LLC raised its position in Nokia by 14.0% during the first quarter. Kathmere Capital Management LLC now owns 12,081 shares of the technology company’s stock valued at $97,000 after acquiring an additional 1,483 shares in the last quarter. Xponance LLC grew its position in Nokia by 13.0% in the fourth quarter. Xponance LLC now owns 13,590 shares of the technology company’s stock worth $88,000 after acquiring an additional 1,567 shares in the last quarter. Finally, Assetmark Inc. grew its position in 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 in the last quarter. 5.28% of the stock is currently owned by hedge funds and other institutional investors.

About Nokia

Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with roots dating back to 1865. Over its long history the company moved from forestry and cable operations into electronics and telecommunications, becoming widely known in the 1990s and 2000s for its mobile phones. In recent years Nokia refocused its business toward network infrastructure, software and technology licensing, and research and development, following the divestiture of its handset manufacturing business and the acquisition of Alcatel‑Lucent in 2016, which brought Bell Labs into its portfolio.

Today Nokia’s core activities center on designing, building and supporting communications networks and related software.