JPMorgan Chase & Co. Increases Nokia (NYSE:NOK) Price Target to $8.00

Nokia (NYSE:NOK) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $7.10 to $8.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 30.40% from the stock’s previous close.

Several other equities analysts have also issued reports on the stock. BNP Paribas raised shares of Nokia from a “hold” rating to an “outperform” rating and set a $5.00 price target on the stock in a report on Wednesday, September 3rd. Wall Street Zen cut shares of Nokia from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Financial Group raised shares of Nokia from a “hold” rating to a “buy” rating in a report on Tuesday, October 28th. UBS Group reissued a “neutral” rating on shares of Nokia in a report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nokia in a research report on Monday, November 24th. Eight investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nokia currently has an average rating of “Moderate Buy” and a consensus target price of $6.10.

Nokia Price Performance

Shares of NOK stock traded up $0.06 during trading hours on Monday, hitting $6.14. The stock had a trading volume of 5,309,535 shares, compared to its average volume of 27,972,941. The stock has a market capitalization of $34.21 billion, a price-to-earnings ratio of 34.09 and a beta of 0.84. The stock’s 50-day moving average price is $5.93 and its two-hundred day moving average price is $5.19. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.46 and a quick ratio of 1.21. Nokia has a one year low of $4.00 and a one year high of $8.19.

Nokia (NYSE:NOK) last announced its earnings results on Thursday, October 23rd. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Nokia had a net margin of 4.65% and a return on equity of 8.31%. The firm had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $4.67 billion. During the same period in the prior year, the company earned $0.06 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. Equities analysts forecast that Nokia will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Nokia

Several institutional investors have recently added to or reduced their stakes in NOK. Acadian Asset Management LLC purchased a new position in Nokia in the first quarter valued at about $45,207,000. Atria Investments Inc grew its stake in shares of Nokia by 214.7% in the 2nd quarter. Atria Investments Inc now owns 84,067 shares of the technology company’s stock valued at $435,000 after buying an additional 57,350 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in shares of Nokia during the 2nd quarter worth about $1,059,000. Penserra Capital Management LLC lifted its position in shares of Nokia by 51.7% in the 2nd quarter. Penserra Capital Management LLC now owns 5,623,955 shares of the technology company’s stock worth $29,132,000 after acquiring an additional 1,916,098 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Nokia by 18.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 468,939 shares of the technology company’s stock worth $2,471,000 after buying an additional 74,072 shares in the last quarter. Hedge funds and other institutional investors own 5.28% of the company’s stock.

About Nokia

Nokia Oyj provides mobile, fixed, and cloud network solutions worldwide. The company operates through four segments: Network Infrastructure, Mobile Networks, Cloud and Network Services, and Nokia Technologies. The company provides fixed networking solutions, such as fiber and copper-based access infrastructure, in-home Wi-Fi solutions, and cloud and virtualization services; IP networking solutions, including IP access, aggregation, and edge and core routing for residential, mobile, enterprise and cloud applications; optical networks solutions that provides optical transport networks for metro, regional, and long-haul applications, and subsea applications; and submarine networks for undersea cable transmission.