Why Nokia Stock Was Surging This Week
A double-digit jump in share price is typically what doesn't happen when a company reports earnings featuring declines in key metrics, not to mention a double miss on both revenue and profitability.
Yet after (NYSE: NOK) published its latest quarterly figures toward the end of this week, its market value popped. Happily, the company had other good news coming down the pike during the period. As a result, according to data compiled by S&P Global Market Intelligence, Nokia's stock was up by nearly 11% week to date as of early Friday morning.
Before U.S. markets opened Thursday, Finland-based Nokia unveiled its fourth-quarter numbers. These showed that the telecom company's net sales tumbled by 23% year over year to just over 5.7 billion euros ($6.2 billion), while adjusted net income fell at a steeper 39% clip to hit 568 million euros ($617 million, or $0.11 per share).
Source Fool.com
Nokia Corp. Stock
With 1 Sell predictions and 1 Buy predictions the community sentiment towards the Nokia Corp. stock is not clear.
As a result the target price of 4 € shows a slightly positive potential of 17.1% compared to the current price of 3.42 € for Nokia Corp..
