NIKE (NYSE:NKE) Given New $28.00 Price Target at Evercore

NIKE (NYSE:NKE) had its target price lowered by equities researchers at Evercore from $46.00 to $28.00 in a note issued to investors on Monday, Marketbeat Ratings reports. Evercore’s price target would suggest a potential downside of 15.66% from the stock’s current price.

NKE has been the topic of a number of other research reports. Weiss Ratings upgraded shares of NIKE from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, July 17th. Stifel Nicolaus set a $40.00 target price on shares of NIKE and gave the stock a “hold” rating in a research note on Monday, September 21st. BNP Paribas Exane reaffirmed an “underperform” rating on shares of NIKE in a research report on Wednesday, July 22nd. Morgan Stanley set a $31.00 price target on NIKE and gave the stock an “underweight” rating in a report on Thursday, September 10th. Finally, HSBC dropped their price objective on NIKE from $48.00 to $40.00 and set a “hold” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-two have given a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $42.44.

NIKE Trading Down 5.5%

NKE traded down $1.95 during trading on Monday, reaching $33.20. 80,932,934 shares of the company’s stock were exchanged, compared to its average volume of 23,760,438. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 0.40. NIKE has a one year low of $31.97 and a one year high of $74.78. The stock has a market capitalization of $49.25 billion, a PE ratio of 15.84, a price-to-earnings-growth ratio of 2.43 and a beta of 1.09. The firm has a fifty day moving average price of $39.04 and a two-hundred day moving average price of $42.94.

NIKE (NYSE:NKE) last posted its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.05. The business had revenue of $11.21 billion during the quarter, compared to the consensus estimate of $11.32 billion. NIKE had a return on equity of 16.54% and a net margin of 6.70%.NIKE’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, equities research analysts forecast that NIKE will post 1.61 earnings per share for the current fiscal year.

Insider Activity at NIKE

In other NIKE news, CFO Matthew Friend sold 2,463 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total value of $102,460.80. Following the transaction, the chief financial officer owned 82,165 shares in the company, valued at approximately $3,418,064. This represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Philip McCartney sold 2,559 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $96,192.81. Following the completion of the sale, the executive vice president directly owned 78,121 shares of the company’s stock, valued at $2,936,568.39. This trade represents a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,974 shares of company stock worth $600,126 over the last quarter. Company insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Confluence Investment Management LLC raised its stake in shares of NIKE by 873.8% in the third quarter. Confluence Investment Management LLC now owns 2,720,616 shares of the footwear maker’s stock worth $96,310,000 after purchasing an additional 2,441,233 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of NIKE by 8.5% during the second quarter. QRG Capital Management Inc. now owns 106,883 shares of the footwear maker’s stock valued at $4,388,000 after buying an additional 8,338 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in NIKE by 214.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 32,596 shares of the footwear maker’s stock worth $1,338,000 after buying an additional 22,215 shares in the last quarter. Envestnet Asset Management Inc. raised its position in NIKE by 98.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,202,581 shares of the footwear maker’s stock valued at $90,416,000 after buying an additional 1,092,282 shares during the last quarter. Finally, State Street Corp lifted its stake in NIKE by 6.8% during the 2nd quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock valued at $2,636,104,000 after acquiring an additional 4,052,428 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Key Headlines Impacting NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE reported fiscal first-quarter adjusted earnings of $0.48 per share, exceeding the $0.43 analyst consensus. The company also said its “Sport Offense” is making progress, while its new Caitlin Clark signature shoe nearly sold out shortly after launch. NIKE fiscal 2027 first-quarter results
• Positive Sentiment: NIKE’s Pace restructuring program is intended to generate approximately $2.5 billion in savings over the next three years, potentially improving efficiency and supporting a longer-term recovery. NIKE announces Pace restructuring plan
• Neutral Sentiment: Analysts lowered price targets following the results: Baird and Stifel reduced targets to $36, while BTIG cut its target to $50 but retained a Buy rating. Needham reaffirmed a Hold rating, reflecting uncertainty about the recovery. Analyst reactions to NIKE results
• Negative Sentiment: Revenue was $11.21 billion, below the $11.32 billion consensus and down 4.3% year over year. The shortfall indicates that demand remains weak even though earnings surpassed expectations. NIKE first-quarter earnings report
• Negative Sentiment: Management expects fiscal 2027 revenue to decline by a high-single-digit percentage and provided EPS guidance of $1.15 to $1.35, well below the roughly $1.66 analyst expectation. The company warned that resets in Sportswear, Jordan and Greater China will worsen before improving, particularly as local competition pressures China sales. NIKE forecasts steep revenue drop
• Negative Sentiment: NIKE plans additional job cuts in fiscal 2027 after two rounds of staff reductions this year. The layoffs and restructuring announcement signal that management expects a longer, more painful turnaround, weighing on investor confidence despite the company’s dividend yield approaching 5%. NIKE shares fall after weak outlook and layoffs

About NIKE

NIKE, Inc is a global sportswear company that designs, develops, markets and sells athletic footwear, apparel, equipment, accessories and related services. Its products are marketed under the NIKE, Jordan and Converse brands and are used across a broad range of sports and lifestyle activities, including running, basketball, football, training and outdoor pursuits.

The company distributes its products through a combination of wholesale partners, NIKE-owned retail stores and digital platforms.