Nokia (NYSE:NOK) Coverage Initiated by Analysts at B. Riley Financial

Investment analysts at B. Riley Financial assumed coverage on shares of Nokia (NYSE:NOK) in a research report issued to clients and investors on Thursday, Briefing.com reports. The firm set a “buy” rating and a $15.00 price target on the technology company’s stock. B. Riley Financial’s price objective would suggest a potential upside of 47.91% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Danske upgraded shares of Nokia from a “hold” rating to a “buy” rating in a research report on Wednesday, July 1st. Morgan Stanley reissued an “overweight” rating on shares of Nokia in a research report on Friday, May 22nd. Rosenblatt Securities started coverage on shares of Nokia in a report on Tuesday. They issued a “buy” rating and a $15.00 price target on the stock. Northland Securities set a $20.00 price target on shares of Nokia in a report on Wednesday, June 3rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Nokia in a research report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $14.12.

Nokia Stock Performance

NYSE NOK opened at $10.14 on Thursday. The company has a 50-day simple moving average of $10.17 and a 200 day simple moving average of $11.11. The company has a market capitalization of $58.23 billion, a PE ratio of 72.44, a price-to-earnings-growth ratio of 1.16 and a beta of 1.21. Nokia has a 52-week low of $4.62 and a 52-week high of $17.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.22 and a current ratio of 1.50.

Nokia (NYSE:NOK) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.01. Nokia had a net margin of 3.49% and a return on equity of 9.83%. The firm had revenue of $5.50 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. On average, research analysts predict that Nokia will post 0.39 EPS for the current year.

Hedge Funds Weigh In On Nokia

Hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in Nokia by 15.0% during the second quarter. Sequoia Financial Advisors LLC now owns 112,046 shares of the technology company’s stock worth $1,488,000 after buying an additional 14,657 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Nokia by 47.2% during the second quarter. Tidal Investments LLC now owns 177,142 shares of the technology company’s stock worth $2,352,000 after buying an additional 56,807 shares in the last quarter. Bienville Capital Management LLC acquired a new position in Nokia during the 2nd quarter valued at about $1,754,000. Engineers Gate Manager LP increased its stake in Nokia by 19.2% in the second quarter. Engineers Gate Manager LP now owns 1,864,080 shares of the technology company’s stock valued at $24,755,000 after purchasing an additional 300,807 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in Nokia by 155.7% in the second quarter. NewEdge Advisors LLC now owns 37,812 shares of the technology company’s stock valued at $502,000 after acquiring an additional 23,024 shares during the period. 5.28% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Nokia

Here are the key news stories impacting Nokia this week:

• Positive Sentiment: Microsoft partnership expands Nokia’s data offering: Nokia said it will work with Microsoft to provide telecommunications operators with expanded data capabilities. The collaboration strengthens Nokia’s position in telecom software, cloud connectivity and AI-related infrastructure, and was the primary catalyst for the latest move higher. Nokia Shares Jump as Microsoft Partnership Expands Data Offering
• Positive Sentiment: AI-RAN momentum is broadening: Nokia is conducting AI-RAN trials with eight operators across four regions. The trials could help the company capture spending as carriers use artificial intelligence to improve network performance, efficiency and automation. Nokia Advances AI-RAN Adoption Across Global Operator Trials
• Positive Sentiment: Analyst and media support added to the bullish tone: Rosenblatt Securities initiated coverage with a Buy/Strong Buy rating and a $15 price target, implying substantial upside from the reported $10.14 level. Jim Cramer also expressed a favorable view of Nokia and recommended buying the shares. Nokia Analyst Begins Coverage on a Bullish Note
• Positive Sentiment: Commercial wins reinforce the networking opportunity: Telxius selected Nokia’s 800G coherent pluggable technology to expand capacity and improve efficiency for cloud, AI and data-center traffic. Nokia also announced a UK defense collaboration and a Spanish deployment of Deepfield Defender DDoS protection, providing evidence of demand across optical networking, security and government markets. Telxius Boosts Global Network Capacity and Efficiency
• Neutral Sentiment: Investors still face execution and valuation risk: Nokia’s AI-RAN trials and partnerships may take time to generate material revenue, while the strong year-to-date advance increases the risk of profit-taking if commercial adoption or earnings growth disappoints.

Nokia Company Profile

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.