Nokia Oyj (NYSE:NOK – Get Free Report) was downgraded by equities research analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued on Thursday,Briefing.com Automated Import reports. They currently have a $3.60 price target on the technology company’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 21.91% from the stock’s current price.
A number of other research analysts have also recently commented on NOK. Northland Securities restated an “outperform” rating and set a $6.50 price target on shares of Nokia Oyj in a research note on Friday, October 18th. JPMorgan Chase & Co. upgraded Nokia Oyj from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $4.35 to $6.35 in a research report on Monday, December 9th. StockNews.com cut Nokia Oyj from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 8th. Danske raised Nokia Oyj from a “hold” rating to a “buy” rating in a report on Friday, October 18th. Finally, Craig Hallum upped their price objective on shares of Nokia Oyj from $6.00 to $7.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.86.
View Our Latest Stock Analysis on Nokia Oyj
Nokia Oyj Stock Performance
Nokia Oyj (NYSE:NOK – Get Free Report) last announced its quarterly earnings data on Thursday, October 17th. The technology company reported $0.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.07. Nokia Oyj had a net margin of 2.18% and a return on equity of 8.32%. The company had revenue of $4.75 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Sell-side analysts forecast that Nokia Oyj will post 0.35 EPS for the current year.
Institutional Investors Weigh In On Nokia Oyj
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of Nokia Oyj by 67.0% during the third quarter. GAMMA Investing LLC now owns 8,540 shares of the technology company’s stock valued at $37,000 after purchasing an additional 3,427 shares during the last quarter. Pinnacle Associates Ltd. acquired a new stake in Nokia Oyj during the 3rd quarter worth $44,000. Alternative Investment Advisors LLC. bought a new stake in shares of Nokia Oyj during the 2nd quarter valued at $45,000. JGP Wealth Management LLC acquired a new position 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 worth $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.
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