Nokia stock gains on analyst support and solid 2026 earnings trajectory

Published on 09/22/2026 at 12:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nokia stock is trading near recent highs as of September 22, 2026, with analysts such as B Riley and Rosenblatt highlighting upside potential. The shares also reflect a rich earnings multiple and dividend yield that frame the risk-reward profile for investors.

Fotorealistischer 5G-Antennenmast mit Technikkorb vor blauem Himmel — Nokia Oyj (FI0009000681) 5G-Antennenmast in fotorealistischer Aufnahme zeigt moderne Netzwerkausrüster-Technologie im Sonnenlicht, Illustration mit AI erstellt.

Nokia Corporation stock (ISIN FI0009000681) is trading close to recent highs as of September 22, 2026, after a series of collaborations and supportive analyst commentary helped reshape expectations for the Finnish network equipment group.

Analyst calls underpin Nokia stock

According to MarketScreener, B Riley initiated coverage of Nokia on September 17, 2026 with a Buy recommendation and a price target of USD 15, positioning the stock above its recent New York closing level.

The same overview shows that Rosenblatt Securities also rates Nokia as Buy as of mid-September 2026, reinforcing a constructive analyst stance even though the average target implies downside from current levels, with a mean objective of EUR 7.394 compared with a last closing price of EUR 9.600 and a calculated gap of minus 22.98 percent.

In addition, the analyst consensus compiled by MarketScreener lists 23 analysts on Nokia with an average opinion of Accumulate, highlighting that while not all houses are fully convinced, the balance of recommendations still tilts slightly toward a positive view.

Valuation and fundamentals for 2026

For investors, the earnings trajectory and valuation metrics are crucial to understanding the current pricing of Nokia stock.

Financial data compiled by MarketScreener indicate that Nokia is expected to generate revenue of EUR 20.759 billion in fiscal year 2026, up from EUR 19.904 billion estimated for 2025, implying projected top-line growth of about 4.3 percent year on year.

On the earnings side, the same dataset shows forecast EBIT of EUR 2.395 billion for 2026 versus EUR 2.024 billion for 2025, pointing to an anticipated increase of roughly 18.3 percent in operating profit, which would signal margin improvement if Nokia delivers on these expectations.

Net income projections in the MarketScreener overview also suggest a step-up, with a 2026 net result associated with a price-earnings ratio of 44.5 times and a dividend yield of 1.58 percent, numbers that highlight a relatively rich valuation multiple compared with the moderate payout but reflect confidence in future growth.

Historical context additionally shows that in earlier fiscal years such as 2020 Nokia generated total revenue of around EUR 19.89 billion and EBITDA near EUR 2.44 billion, illustrating that the projected 2026 figures would be slightly above this historical baseline if achieved, according to long-term financial history presented by MarketScreener.

Recent share performance and Nordic trading context

The current trading picture for Nokia shares shows a stock that has recovered in recent weeks but still carries volatility.

An analysis on September 21, 2026 by Simply Wall St notes that Nokia shares on the Helsinki exchange were trading at EUR 9.362 with a one-day return of 1.21 percent and a seven-day return of 8.99 percent, even though the 90-day share price return was down 21.98 percent, underscoring the rebound from a weak summer.

The same piece highlights that this recovery followed a series of product, client and defense collaborations in September 2026, which together have helped improve sentiment around Nokia and contributed to the recent upward move despite the longer-term underperformance.

Nordic trading data cited by MarketScreener on September 22, 2026 show Nokia at EUR 9.600 in Stockholm terms, up 2.54 percent with an 11.76 percent gain since the beginning of the year and a market capitalization of EUR 61.64 billion, while the New York quote stood at USD 10.94, illustrating the dual listing and liquidity across venues.

Stock price level and trading metrics

As of September 22, 2026, Nordic quote data for Nokia on the Cboe Nordic marketplace indicate a last price of SEK 106.45, down 1.28 percent from the previous close of SEK 107.83, with the five-day performance at plus 11.41 percent and the year-to-date change at plus 78.87 percent, based on intraday figures reported by MarketScreener.

The same trading table lists a volume of 25,143 shares on September 22, 2026 compared with volumes between roughly 273,000 and 417,000 shares over the four preceding sessions, indicating that activity on the day was still relatively low even though the price has moved sharply higher over the past week.

For investors looking at valuation through the Nordic lens, MarketScreener calculates an enterprise-value-to-revenue multiple of about 2.44 times and a price-to-book ratio of 2.49 times for Nokia, figures that suggest a market willing to pay a premium to the company’s tangible equity base but not an excessive level compared with some higher-growth technology peers.