Why Is Nokia Stock Surging Monday?

Nokia Corporation (NYSE:NOK) stock rose nearly 2% on Monday as the company returned to the EURO STOXX 50 index and investors focused on its growing artificial intelligence exposure.

The Nasdaq gained 1.38%, while the S&P 500 rose 0.69%.

Nokia officially rejoined the EURO STOXX 50 on Monday.

Meanwhile, Nokia continues to build its AI and cloud presence. The company is expanding its collaboration with Microsoft Corporation (NASDAQ:MSFT), combining Nokia Data Suite with Microsoft Fabric to give telecom operators faster access to network data for AI-driven operations.

The developments come as analysts turn more constructive. B. Riley Securities initiated coverage with a Buy rating and $15 price target on Sept. 17. Rosenblatt also started coverage with a Buy rating and $15 target on Sept. 15, citing opportunities tied to high-speed optical connectivity.

Technical Analysis

Nokia remains in a constructive longer-term trend. The stock is trading about 9.3% above its 200-day simple moving average of $9.82.

Its 50-day SMA also remains above the 200-day SMA, maintaining the bullish "golden cross" that emerged in October 2025.

However, Nokia is still about 10.7% below its 100-day SMA of $12.02. That puts the $12 area in focus if the stock extends its gains.

The relative strength index stands at 53.94, signaling neutral momentum.

Meanwhile, Nokia is about 4.2% above its 20-day SMA of $10.30 and 6.2% above its 50-day SMA of $10.11.

Near-term resistance sits around $11, while support is near $9.50.

Analyst Outlook

The stock carries a Buy consensus rating with an average price forecast of $16.50.

B. Riley Securities initiated coverage with a Buy rating and $15 price target on Sept. 17. Rosenblatt also started coverage with a Buy rating and $15 target on Sept. 15. JPMorgan maintained an Overweight rating in June and raised its price target to $21.

Benzinga Edge Rankings

Nokia has a Benzinga Edge Momentum score of 93.58, indicating strong relative price performance.

Its Quality score is 47.31, Value score is 45.79 and Growth score is 46.77.

Investors can track Nokia and other stocks using the Benzinga Edge scorecard.

ETF Exposure

The Spear Alpha ETF (NASDAQ:SPRX) has a 4.15% weighting in Nokia.

Price Action

NOK Price Action: Nokia shares were up 1.69% at $10.86 at the time of publication Monday, according to Benzinga Pro data.

Photo via Shutterstock