Should I Buy NOK? NOK 2026 Analysis

Should You Buy Nokia Oyj (NOK) Today? Analysis, Price Targets, and 2026 Outlook.

Conclusion

Buy

Latest Price

7.070

1 Day change

3.06%

52 Week Range

8.190

Analysis Updated At

2026/02/05

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Buy NOK now for a near-term momentum continuation setup: trend/moving averages are bullish and options positioning is strongly call-skewed.
Upside levels to watch are 7.02 (R1) then 7.26 (R2); the tape suggests NOK can re-test these quickly if the market stabilizes.
Key risk is short-term choppiness/pullback after the post-earnings drop and slightly negative pattern-based forward odds, but the current setup still favors an immediate entry for an impatient buyer.

Technical Analysis

Trend is bullish: SMA_5 > SMA_20 > SMA_200 indicates an established uptrend across short/medium/long horizons.
MACD histogram is positive (0.013) and expanding, consistent with strengthening upward momentum.
RSI_6 at 63.35 is bullish-leaning but not overbought; supports continuation rather than exhaustion.
Price levels: Pivot 6.622 is the key line to hold; resistance is close at 7.016 (R1) then 7.259 (R2). With price at 6.865, the stock is positioned for a breakout/retest of R1.
Short-horizon pattern stats are slightly negative (next day/week bias), implying possible dips, but they are not strong enough to override the broader uptrend signals.

Options Data

Bullish

Open Interest Put-Call Ratio

Bullish

Option Volume Put-Call Ratio

Positioning is notably bullish: open interest put/call = 0.31 and volume put/call = 0.18 (calls dominate).
Today’s options activity is elevated: volume is ~180% of the 30-day average, signaling heightened attention/positioning.
IV context: 30D IV ~35.25 vs HV ~40.34 suggests options are not pricing extreme fear; IV percentile ~48 is mid-range (not stretched).
Net takeaway: options market sentiment supports upside/bullish bias in the near term.

Technical Summary

Sell

Buy

Positive Catalysts

- Q4 results beat on revenue: Q4 revenue grew (reported as 3% YoY in news; snapshot shows +11.72% YoY), supporting a fundamental “demand is holding up” narrative.
- Management outlook: targeting EUR 2B–EUR 2.5B operating profit in 2026 provides a roadmap catalyst for re-rating if execution follows.
- Segment strength: Network Infrastructure showed strong growth (20.6% increase in 2025 net sales per news), reinforcing a higher-quality mix vs weaker areas.
- Wall Street tone improving: multiple upgrades/raised targets recently (JPMorgan, Santander, Kepler, Danske, SEB, Deutsche Bank).

Neutral/Negative Catalysts

- Profitability deterioration in the latest quarter: net income and EPS fell sharply YoY, which can cap multiple expansion until margins stabilize.
- Mobile Infrastructure weakness (declines mentioned in news) remains a drag and a recurring headline risk.
- Post-earnings price behavior: stock fell ~8% around Q4 despite revenue strength, indicating sensitivity to macro/broader market concerns.
- Broad market headwind: S&P 500 down ~1.09% today; NOK may struggle to break resistance cleanly if risk-off persists.

Financial Performance

Latest quarter: 2025/Q4.
Revenue: 7.13B (snapshot 7.129B) up +11.72% YoY, a clear top-line acceleration.
Net income: 630.9M down -27.86% YoY, showing earnings pressure despite higher sales.
EPS: 0.11 down -31.25% YoY, consistent with margin/expense headwinds.
Gross margin: 44.96%, down -2.56% YoY, indicating profitability compression is the main issue to monitor going forward.
Overall: growth is improving, but quality of earnings/margins is weakening—bullish for “turnaround/operational execution” traders, less ideal for pure margin-expansion stories.

Growth

Profitability

Efficiency

Analyst Ratings and Price Target Trends

Recent trend is improving: multiple firms upgraded NOK to Buy/Outperform and several raised price targets (JPMorgan to $8.20 Overweight; Santander to Outperform; Kepler to Buy; Danske/SEB/Deutsche Bank upgrades/raises).
Notable bear holdout: Citi raised its target but maintained a Sell rating, signaling ongoing skepticism (likely margins/segment mix).
Wall Street pros view (bull case): improving revenue trajectory, AI/network infrastructure linkage, and clearer profit targets for 2026.
Wall Street cons view (bear case): margin compression, earnings declines, and uneven segment performance (Mobile Infrastructure) could limit upside until execution improves.
Flows/behavioral checks: hedge funds and insiders are neutral; no recent Congress trading data available; no politician/influential trading catalysts identified in the provided data.

Intellectia Proprietary Trading Signals

AI Stock Picker: No signal on given stock today.
SwingMax: No signal on given stock recently.

NOK Should I Buy