What's Going On With Nokia Stock Today?

Nokia Oyj (NYSE:NOK) shares are up on Friday morning, while the broader market shows mixed performance.

• Nokia stock is gaining positive traction. What’s driving NOK shares up?

In the recent past, Nokia announced a partnership, which is expected to close in the fourth quarter of 2026, with Lockheed Martin Corporation (NYSE:LMT) to enhance secure communications for U.S. and allied defense forces. The collaboration aims to deliver modular 5G capabilities for military vehicles and involves joint initiatives in 6G, AI and wireless edge technologies.

Nokia recently reported net sales of $5.26 billion, up 4% year over year, but missed consensus estimates of $5.40 billion. Additionally, the company’s EPS came in at six cents, below expectations but representing a 67% year-on-year increase.

Technical Analysis

Nokia’s stock has shown impressive momentum over the past year, with a 12-month gain of 145.53%. Currently, the stock is trading well above its key moving averages, with the 20-day simple moving average (SMA) at $11.26, indicating a bullish trend.

The moving average convergence divergence (MACD) is above its signal line, suggesting that downside pressure is easing, even if the trend hasn't fully flipped. The Relative Strength Index (RSI) is at 77.32, indicating the stock is in overbought territory, which typically suggests a potential pullback could be on the horizon.

• Key Resistance: $13.98 — This level marks the 52-week high, which could act as a barrier for further upside.
• Key Support: $11.26 — This level aligns with the 20-day SMA, providing a potential floor for price action.

Nokia is a networking equipment vendor focused primarily on supporting wireless networks and, to a growing extent, Internet Protocol and optical systems. The firm operates three segments: mobile infrastructure, network infrastructure and portfolio business. The mobile infrastructure segment sells equipment and software used to operate the core of carrier and enterprise wireless networks, while the network infrastructure segment includes IP, optical, and fixed-network equipment.

This company matters as it plays a crucial role in the telecommunications industry, especially with its recent partnership with Lockheed Martin, which could enhance its presence in the defense sector. The collaboration aims to integrate Nokia’s technology within the Department of Defense's framework, potentially opening new avenues for growth.

Earnings & Analyst Outlook

Nokia is slated to provide its next financial update on July 23 (estimated).

• EPS Estimate: 7 cents (Up from 4 cents)
• Revenue Estimate: $5.62 billion (Up from $5.15 billion)
• Valuation: P/E of 75.3x (Indicates premium valuation)

Analyst Consensus & Recent Actions: The stock carries a Buy rating with a consensus price target of $7.41. Recent analyst moves include:

• Argus Research: Upgraded to Buy (Target $15 on April 27)
• Morgan Stanley: Initiated with Overweight (Target $8 on Feb. 9)
• JP Morgan: Overweight (Raises Target to $8 on Dec. 1, 2025)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Nokia, highlighting its strengths and weaknesses compared to the broader market:

• Momentum: Bullish (Score: 95.73) — Stock is outperforming the broader market.
• Quality: Neutral (Score: 75.36) — Balance sheet remains healthy.
• Growth: Moderate (Score: 69.76) — Indicates a solid growth trajectory.
• Value: Weak (Score: 45.03) — Trading at a steep premium relative to peers.

The Verdict: Nokia’s Benzinga Edge signal reveals a momentum-driven story, supported by solid growth and quality scores. However, the value ranking indicates the stock is trading at a premium, which could be a concern for value-focused investors.

Top ETF Exposure

• Defiance Quantum ETF (NASDAQ:QTUM): 1.72% Weight
• Defiance Connective Technologies ETF (NASDAQ:UFOX): 2.89% Weight
• First Trust Indxx NextG ETF (NASDAQ:NXTG): 1.60% Weight

Significance: Because Nokia carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely trigger automatic buying or selling of the stock.

Price Action

NOK Stock Price Activity: Nokia shares were up 3.89% at $12.83 at publication on Friday, according to Benzinga Pro data.

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