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

Nokia Oyj (NYSE:NOK) had its price objective raised by Craig Hallum from $6.00 to $7.00 in a report published on Monday morning,Benzinga reports. Craig Hallum currently has a buy rating on the technology company’s stock.

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

Nokia Oyj Price Performance

Shares of NOK opened at $4.66 on Monday. The company’s 50-day moving average is $4.42 and its 200-day moving average is $4.25. 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 capitalization of $25.41 billion, a PE ratio of 58.25, a PEG ratio of 5.80 and a beta of 1.06. Nokia Oyj has a fifty-two week low of $3.29 and a fifty-two week high of $4.95.

Nokia Oyj (NYSE:NOK) last issued its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The firm had revenue of $4.75 billion during the quarter, compared to the consensus estimate of $5.10 billion. Equities analysts forecast that Nokia Oyj will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Nokia Oyj

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Nokia Oyj by 67.0% during the 3rd quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock worth $37,000 after acquiring an additional 3,427 shares during the period. Pinnacle Associates Ltd. acquired a new position in Nokia Oyj during the third quarter valued at approximately $44,000. Alternative Investment Advisors LLC. bought a new stake in Nokia Oyj during the second quarter worth $45,000. JGP Wealth Management LLC acquired a new stake in shares of Nokia Oyj in the 3rd quarter valued at $45,000. Finally, PEAK6 Investments LLC bought a new position in shares of Nokia Oyj in the 3rd quarter valued at $45,000. 5.28% of the stock is currently owned by institutional investors and hedge funds.

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.