Nordnet, SE0015192067

Deutsche Bank starts Nordnet stock coverage at SEK 360

Published on 10/05/2026 at 10:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter operating profit rose 33.30 percent to SEK 1.19 billion. Nordnet stock costs EUR 30.86 on October 5, 2026 versus EUR 30.79.

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Nordnet (ISIN SE0015192067) is the subject of Deutsche Bank's new coverage at a SEK 360 target, while J.P. Morgan resumes coverage at SEK 401, according to Yahoo Finance on September 30, 2026. Deutsche Bank rates the stock Hold and J.P. Morgan rates it Overweight, setting up a clear valuation split before the next results.

Targets split over growth

Nordnet's primary Nasdaq Stockholm quote was SEK 347.40 on October 5, 2026 at 10:01 a.m. CEST. The Deutsche Bank target lies 3.63 percent above that price, while the J.P. Morgan target lies 15.43 percent above it.

The difference reflects contrasting views on how much future expansion is already priced in. Yahoo Finance reports that Deutsche Bank expects higher execution risk around Nordnet's German launch, while J.P. Morgan points to cross-border trading and foreign-exchange fees as growth drivers.

Second-quarter earnings set the base

For April through June 2026, Nordnet reported operating profit of SEK 1.19 billion, up 33.30 percent from SEK 893.00 million a year earlier. Diluted earnings per share increased to SEK 3.80 from SEK 2.84, a 33.80 percent rise, according to TS2, citing Nordnet's second-quarter release dated July 17, 2026.

Net savings reached SEK 26.00 billion in the second quarter, 78.00 percent above the year-earlier figure, while Nordnet added 74,000 customers. That operating leverage gives the bullish view a measurable earnings base, but the analyst split leaves execution and trading activity as important variables.

Buyback sets the capital context

Nordnet began a share repurchase program of up to SEK 250.00 million on September 21, 2026, with purchases scheduled to run no later than December 23, according to MarketScreener. The program supports capital distribution, although its direct effect on per-share earnings is limited compared with customer growth and savings flows.

Nordnet's investor-relations calendar lists monthly statistics for September on October 5, 2026 and the interim report for January through September 2026 on October 22, 2026 at 7:00 a.m. CET, according to Nordnet.

EUR quote holds above prior close

At Lang & Schwarz, Nordnet stock was trading at EUR 30.86 on October 5, 2026 at 10:01 a.m. CEST, up 0.23 percent versus the prior close of EUR 30.79. The Nasdaq Stockholm quote and the Lang & Schwarz quote are separate venues and currencies.

The further course of trading is shown by the continuously updated real-time quote of Nordnet stock.