Nokia Oyj (NYSE:NOK) Price Target Raised to $7.00

Nokia Oyj (NYSE:NOK) had its target price hoisted by Craig Hallum from $6.00 to $7.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms have also recently issued reports on NOK. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $4.35 to $6.35 in a report on Monday, December 9th. StockNews.com raised Nokia Oyj from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 25th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a research report on Friday, October 18th. Finally, Northland Securities reiterated an “outperform” rating and issued a $6.50 price objective on shares of Nokia Oyj in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Nokia Oyj presently has an average rating of “Moderate Buy” and a consensus price target of $6.62.

Nokia Oyj Trading Up 0.6 %

NYSE NOK opened at $4.66 on Monday. Nokia Oyj has a one year low of $3.29 and a one year high of $4.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.72 and a quick ratio of 1.46. The firm has a market cap of $25.41 billion, a P/E ratio of 58.25, a P/E/G ratio of 5.80 and a beta of 1.06. The stock’s 50-day moving average is $4.42 and its 200-day moving average is $4.25.

Nokia Oyj (NYSE:NOK) last announced its quarterly earnings results on Thursday, October 17th. The technology company reported $0.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.07. The firm had revenue of $4.75 billion for the quarter, compared to analyst estimates of $5.10 billion. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. Sell-side analysts anticipate that Nokia Oyj will post 0.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Nokia Oyj by 67.0% in the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after buying an additional 3,427 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in Nokia Oyj in the third quarter valued at $44,000. Alternative Investment Advisors LLC. bought a new position in shares of Nokia Oyj in the 2nd quarter valued at about $45,000. JGP Wealth Management LLC acquired a new position in shares of Nokia Oyj during the 3rd quarter worth about $45,000. Finally, PEAK6 Investments LLC acquired a new stake in Nokia Oyj in the 3rd quarter valued at about $45,000. Institutional investors and hedge funds own 5.28% of the company’s stock.

About Nokia Oyj

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.