Nordnet, SE0015192067

BNP Paribas raises Nordnet stock target to SEK 370

Published on 10/18/2026 at 13:01 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

For Nordnet stock, September trades fell 4.9 percent year over year. Third-quarter results are due October 22, 2026.

Growth and analyst revision

BNP Paribas lifted its Nordnet target from SEK 360 to SEK 370 on October 14, 2026.
Nordnet's operating profit reached SEK 1,190 million in the second quarter of 2026, up 33.00 percent year over year.
Nordnet reported 2,565,900 customers at the end of September 2026, representing 12.00 percent annual growth.

Pop-Art-Comic zeigt begeisterten Anleger vor steigendem Aktienchart mit Sprechblase — Nordnet AB (ISIN SE0015192067) wird in diesem Pop-Art-Comic mit einem begeisterten Anleger vor Kurscharts gezeigt, Illustration mit AI erstellt.

Nordnet AB (publ) (ISIN SE0015192067) received a higher price target from BNP Paribas on October 14, 2026, while the bank kept its neutral rating. According to Placera, the target rose from SEK 360 to SEK 370.

What does the target change signal?

The revision gives Nordnet a higher valuation marker, but the neutral rating keeps the message balanced. BNP Paribas did not turn the target change into a bullish recommendation, leaving operating momentum and trading activity as the next evidence points.

Nordnet reported operating revenue of SEK 1,634 million and operating profit of SEK 1,190 million in the second quarter of 2026. Operating profit rose 33.00 percent from SEK 893 million in the second quarter of 2025, while earnings per share increased to SEK 3.80 from SEK 2.84, according to Inderes.

Three events set the timeline

On September 21, 2026, Nordnet launched a share buyback program worth SEK 250 million, as reported by MarketScreener. On October 5, 2026, the company reported 5,175,100 customer trades in September, down 4.90 percent from September 2025, while customer numbers reached 2,565,900, up 12.00 percent year over year, according to Nordnet. The October 14, 2026 BNP Paribas target revision is the latest event in this sequence.

Which dates matter next?

Nordnet's investor calendar lists October 22, 2026 for the interim report covering January through September and a Stockholm presentation. The date places the next operating test close to the analyst revision and gives investors a defined checkpoint for trading activity, customer growth and earnings.

Stock valuation meets operating scale

On Nasdaq Stockholm, Nordnet was last at SEK 339.60 on October 16, 2026 at 5:29 p.m. CEST. Its market capitalization was SEK 84.4 billion, and the 52-week range stood at SEK 257.60 to SEK 384.00. September statistics showed savings capital of SEK 1,460 billion and total lending of SEK 33.0 billion, both reported by Nordnet on October 5, 2026.

The investor case therefore rests on two competing forces: a high-margin digital platform with expanding customer assets, and earnings sensitivity to trading activity and interest income. The October 22 report should clarify whether September's lower trade count was temporary or part of a broader slowdown.