The Goldman Sachs Group Cuts NIKE (NYSE:NKE) Price Target to $42.00

NIKE (NYSE:NKE) had its price target lowered by equities research analysts at The Goldman Sachs Group from $46.00 to $42.00 in a report released on Wednesday,MarketScreener reports. The brokerage currently has a “neutral” rating on the footwear maker’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 1.22% from the stock’s current price.

Several other analysts also recently commented on the stock. Royal Bank Of Canada reiterated a “neutral” rating on shares of NIKE in a report on Wednesday. Wells Fargo & Company cut their price target on shares of NIKE from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday. BTIG Research reaffirmed a “buy” rating and issued a $55.00 price objective on shares of NIKE in a research report on Wednesday. Jefferies Financial Group dropped their target price on shares of NIKE from $110.00 to $90.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Finally, Truist Financial cut their target price on NIKE from $69.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Fourteen equities research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.16.

NIKE Stock Up 3.6%

Shares of NYSE:NKE traded up $1.47 during mid-day trading on Wednesday, hitting $42.52. 15,442,622 shares of the company traded hands, compared to its average volume of 20,736,977. The stock has a 50-day moving average price of $44.01 and a two-hundred day moving average price of $53.56. NIKE has a 12-month low of $40.00 and a 12-month high of $80.17. The stock has a market cap of $62.96 billion, a P/E ratio of 27.94, a P/E/G ratio of 1.81 and a beta of 1.12. The company has a current ratio of 2.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE) last released its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. The business had revenue of $11.28 billion during the quarter, compared to analyst estimates of $11.23 billion. NIKE had a return on equity of 16.41% and a net margin of 4.84%.NIKE’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. On average, equities research analysts forecast that NIKE will post 1.49 earnings per share for the current year.

Insider Buying and Selling at NIKE

In related news, Director Timothy D. Cook bought 25,000 shares of NIKE stock in a transaction dated Friday, April 10th. The stock was purchased at an average cost of $42.43 per share, with a total value of $1,060,750.00. Following the transaction, the director directly owned 130,480 shares of the company’s stock, valued at approximately $5,536,266.40. The trade was a 23.70% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Philip Mccartney sold 17,398 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $46.18, for a total transaction of $803,439.64. Following the sale, the executive vice president owned 53,133 shares of the company’s stock, valued at approximately $2,453,681.94. The trade was a 24.67% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have bought a total of 64,441 shares of company stock valued at $2,734,204 in the last three months. 0.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NIKE

Institutional investors and hedge funds have recently bought and sold shares of the company. Main Street Financial Solutions LLC grew its stake in shares of NIKE by 4.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 3,441 shares of the footwear maker’s stock worth $244,000 after acquiring an additional 139 shares during the period. Diligent Investors LLC lifted its holdings in NIKE by 4.3% during the fourth quarter. Diligent Investors LLC now owns 3,719 shares of the footwear maker’s stock valued at $237,000 after purchasing an additional 153 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in NIKE by 4.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,978 shares of the footwear maker’s stock valued at $253,000 after purchasing an additional 163 shares during the last quarter. Lakeshore Capital Group Inc. boosted its position in NIKE by 2.9% during the fourth quarter. Lakeshore Capital Group Inc. now owns 5,868 shares of the footwear maker’s stock worth $374,000 after purchasing an additional 165 shares during the period. Finally, ANB Bank boosted its position in NIKE by 0.7% during the fourth quarter. ANB Bank now owns 25,451 shares of the footwear maker’s stock worth $1,621,000 after purchasing an additional 165 shares during the period. 64.25% of the stock is owned by institutional investors.

Trending Headlines about NIKE

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE beat Wall Street’s Q4 EPS and revenue estimates, with higher gross and operating profit helped by better margins and a tariff refund. Article Title
• Positive Sentiment: Several analysts still see upside from current levels, including BTIG’s reiterated Buy and Barclays’ Overweight rating, even after multiple price-target cuts. Article Title
• Neutral Sentiment: Management is prioritizing margin recovery, inventory discipline, and sport-led execution, which may help the medium-term turnaround but does not change the near-term sales slowdown. Article Title
• Negative Sentiment: China remains a major headwind, with sales there down about 12%, and broader demand remains weak in key regions such as Greater China and Europe. Article Title
• Negative Sentiment: NIKE lowered investor expectations with a cautious outlook, saying the turnaround is taking longer and warning that sales are still struggling, which is driving the stock lower in premarket trading. Article Title
• Negative Sentiment: Multiple brokerages cut price targets after the report, including JPMorgan, Piper Sandler, Bank of America, Barclays, and Wells Fargo, reinforcing caution around the stock. Article Title

NIKE Company Profile

Nike, Inc (NYSE: NKE) is a global designer, marketer and distributor of athletic footwear, apparel, equipment and accessories. Founded in 1964 as Blue Ribbon Sports by Phil Knight and Bill Bowerman and renamed Nike in 1971, the company is headquartered near Beaverton, Oregon. Nike develops and commercializes products across performance and lifestyle categories for sports including running, basketball, soccer and training, and is known for signature technologies and design-driven product lines.

The company markets products under several primary brands, including Nike, Jordan and Converse, and sells through a combination of wholesale relationships, branded retail stores and direct-to-consumer channels such as company-operated stores and digital platforms (e.g., Nike.com and mobile apps).