JPMorgan Chase & Co. Increases Nokia (NYSE:NOK) Price Target to $21.00

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

A number of other research analysts also recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nokia in a report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Nokia in a research note on Friday, May 15th. Bank of America raised shares of Nokia from a “neutral” rating to a “buy” rating and set a $12.40 price objective for the company in a report on Monday, April 13th. The Goldman Sachs Group raised shares of Nokia from a “sell” rating to a “neutral” rating in a report on Monday, March 30th. Finally, Northland Securities set a $20.00 price target on shares of Nokia in a report on Wednesday, June 3rd. Twelve research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $12.57.

Nokia Stock Up 5.9%

NYSE NOK traded up $0.84 during trading hours on Friday, reaching $14.93. 50,674,414 shares of the company traded hands, compared to its average volume of 76,944,242. The stock has a market capitalization of $85.70 billion, a PE ratio of 93.06, a PEG ratio of 2.60 and a beta of 1.15. The company has a current ratio of 1.57, a quick ratio of 1.32 and a debt-to-equity ratio of 0.11. Nokia has a 12 month low of $4.00 and a 12 month high of $17.45. The company has a 50 day moving average of $12.59 and a two-hundred day moving average of $8.97.

Nokia (NYSE:NOK) last issued its earnings results on Tuesday, March 31st. The technology company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $5.21 billion for the quarter. Nokia had a net margin of 4.02% and a return on equity of 9.05%. As a group, equities analysts expect that Nokia will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp boosted its position in shares of Nokia by 248.7% during the fourth quarter. Fifth Third Bancorp now owns 3,815 shares of the technology company’s stock worth $25,000 after buying an additional 2,721 shares during the period. Wexford Capital LP acquired a new position in Nokia during the 3rd quarter worth $29,000. FNY Investment Advisers LLC boosted its position in Nokia by 33,457.1% during the 4th quarter. FNY Investment Advisers LLC now owns 4,698 shares of the technology company’s stock worth $30,000 after acquiring an additional 4,684 shares during the period. Dorato Capital Management bought a new position in shares of Nokia in the fourth quarter worth $31,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Nokia during the third quarter valued at $34,000. 5.28% of the stock is owned by institutional investors and hedge funds.

Nokia Company Profile

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.