Nokia stock builds a sovereign satellite business with ICEYE

Published on 10/05/2026 at 19:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Nokia stock carries a EUR 12.65 consensus target from four houses dated October 5, 2026. Q2 comparable operating profit reached EUR 434 million.

Aquarellbild der Helsinki-Espoo Skyline am Wasser mit Segelbooten — Nokia Oyj (FI0009000681) Aquarellmalerei der Espoo und Helsinki Skyline symbolisiert den finnischen Firmensitz des Netzwerkausrüsters, Illustration mit AI erstellt.

Nokia stock (ISIN FI0009000681) was last at EUR 9.35 on Nasdaq Helsinki on October 5, 2026, down 1.02 percent from EUR 9.44. The company is expanding beyond terrestrial networks through a sovereign satellite communications partnership announced with ICEYE on October 1, 2026.

Satellite deal targets 2028

According to Nokia, the partners will develop secure, sovereign and high-performance low Earth orbit systems for governments and defense customers. The first communications satellites are expected to launch in 2028, with Nokia contributing secure networking technologies, ground infrastructure and ruggedized terminals.

The commercial importance is still prospective, but the target market is concrete: defense, border security, emergency services and disaster response. The systems are designed to complement terrestrial and commercial networks, giving governments control over satellites, ground segments and terminals.

AI orders support the case

Nokia's latest reported quarter adds a second growth pillar. In Q2 2026, net sales reached EUR 4.815 billion, up 8 percent on a reported basis from EUR 4.448 billion in comparable Q2 2025, according to MetaTrader. Comparable operating profit increased 18 percent year over year to EUR 434 million, while the comparable operating margin rose to 9.0 percent from 8.3 percent.

AI and Cloud customer sales grew 105 percent in the quarter, and related order intake reached EUR 2.8 billion. The reported operating result was instead a EUR 50 million loss because accelerated restructuring charges totaled EUR 390 million, showing why Nokia's comparable and reported figures tell different stories.

Consensus stays above the quote

According to Borse Express, four houses publish a 12-month consensus target of EUR 12.65, with 3 Buy ratings, 1 Hold rating and 0 Sell ratings. The consensus target lies 35.3 percent above the EUR 9.35 Helsinki quote.

The same source reports that B. Riley began coverage with a Buy rating and a USD 15.00 target on September 17, 2026. The upcoming checkpoint is Nokia's Q3 report on October 22, 2026, a date identified by Borse Express.

Stock remains below yearly high

Nokia was last at EUR 9.35 on Nasdaq Helsinki at 2:33 p.m. EET on October 5, 2026, with a session range of EUR 9.33 to EUR 9.56. Its 52-week range was EUR 4.14 to EUR 14.42, leaving the quote 35.2 percent below the high.