Nokia Stock Forecast: Why is it up by 1.1% this week?

Nokia Stock Forecast: The stock is expected to trade between $4.6 and $4.7. The overall recommendation is Buy.

Nokia Stock Forecast 2022: Performance of Nokia Stock in 2022

Nokia Stock Forecast: Performance Chart

Stock Name5 Days1 Month6 Months1 Year

Nokia Stock Forecast: Latest Tweet

Originally tweeted by Tickeron (@Tickeron) on July 21, 2022.

$NOK reports Earnings today. $NOK enters an Uptrend as Momentum Indicator exceeded the 0 level on July 19, 2022. View odds for this and other indicators: #Nokia #stockmarket #stock

Nokia Stock Forecast: 2021 Review

December 31st, 2020$3.88
January 11th, 2020$3.83
December 28th, 2021$6.40
December 30th, 2021$6.26

Nokia Stock Performance 2022

Overall $6.19
UBS Group$5.86
Deutsche Bank Aktiengesellschaft$6.06

Nokia Stock Forecast: Latest News

  • Even after S&P’s gain, Nokia stock dipped on June 23, 2022. Some gain is expected when Nokia might report earnings per share of $0.1 according to Zacks. For the year 2022, the expected earning per share is $0.4 with a revenue of $25.3B. 
  • Nokia’s current P/E ratio is 11.1 which puts it behind the industry average of 18.7. It is still, however, in the top 40% of this sector.
  • US Cellular, which has a long-term 5G expansion partnership with Nokia, tested 5G drones for connectivity. Nokia is set to make a 5G RAN available for the same.
  • In June, Nokia announced a deal with wire 3 for 10G in Florida. Following this, a share buy-back program was decided which led to a return of 0.6B to shareholders.

NOK Stock Forecast: Latest Video

YouTube video

Nokia Stock Forecast: Is it a buy?

There are mixed sentiments for Nokia in the market, the analysts suggest “buy” whereas it has a Zacks Rank of “3” which means “holding” the stock. The prices are falling, it is believed to be a part of the long downward trend. Amongst falling prices, the trading volume is increasing which points towards a risk of being oversold. Even after the financial stability of Nokia, the stocks continue to fall. They are expected to have a boost once earnings are announced.

Due to Nokia’s new partnership with Wire 3 and strong financials, Citigroup ended up increasing the price target leading to some revival of Nokia on the market. While the stock is not expected to rise faster immediately, it is a moderate buy for those willing to hold it for some time – The company’s EBIT is higher than the industry average suggesting positive growth.

Nokia Stock Forecast: Technical Analysis

Nandini Panchal

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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