NIKE (NYSE:NKE) Now Covered by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of NIKE with a “neutral” rating and a $38 price target, implying 4.63% downside from the stock’s current price.
• Analyst sentiment is cautious overall: MarketBeat reports a consensus “Reduce” rating and an average price target of $40.83, with 21 Hold and 12 Sell ratings among analysts surveyed.
• NIKE’s latest quarterly EPS of $0.48 beat estimates of $0.43, but revenue of $11.21 billion fell short of forecasts and declined 4.3% year over year.

Research analysts at Cantor Fitzgerald began coverage on shares of NIKE (NYSE:NKE - Get Free Report) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage set a "neutral" rating and a $38.00 price target on the footwear maker's stock. Cantor Fitzgerald's price target indicates a potential downside of 4.63% from the company's current price.

A number of other research analysts have also issued reports on NKE. Berenberg Bank set a $27.50 price target on shares of NIKE and gave the company a "sell" rating in a research note on Tuesday, October 6th. Wells Fargo & Company set a $30.00 price target on shares of NIKE and gave the stock an "equal weight" rating in a research report on Friday, October 2nd. Sanford C. Bernstein restated an "outperform" rating and set a $45.00 price objective on shares of NIKE in a research note on Friday, October 2nd. UBS Group reaffirmed a "neutral" rating on shares of NIKE in a report on Thursday, October 22nd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of NIKE in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twenty-one have issued a Hold rating and twelve have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $40.83.

NIKE Price Performance

Shares of NKE stock opened at $39.84 on Tuesday. NIKE has a fifty-two week low of $31.97 and a fifty-two week high of $69.14. The firm has a market capitalization of $59.18 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 4.73 and a beta of 1.01. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.39 and a current ratio of 2.07. The stock's 50-day simple moving average is $36.91 and its 200-day simple moving average is $45.50.

NIKE (NYSE:NKE - Get Free Report) last posted its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.05. The firm had revenue of $11.21 billion for the quarter, compared to the consensus estimate of $11.32 billion. NIKE had a net margin of 6.74% and a return on equity of 15.94%. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.49 earnings per share. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. As a group, equities analysts forecast that NIKE will post 1.22 earnings per share for the current fiscal year.

Insider Buying and Selling at NIKE

In related news, COO Venkatesh Alagirisamy sold 3,671 shares of the company's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $137,992.89. Following the completion of the transaction, the chief operating officer owned 104,862 shares in the company, valued at $3,941,762.58. This represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 dated Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total transaction of $96,192.81. Following the completion of the transaction, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. This represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NKE. State Street Corp raised its position in shares of 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 buying an additional 4,052,428 shares during the period. Flossbach Von Storch SE acquired a new position in shares of NIKE in the second quarter worth $488,714,000. Amundi grew its stake in shares of NIKE by 59.4% in the second quarter. Amundi now owns 6,460,398 shares of the footwear maker's stock worth $265,199,000 after acquiring an additional 2,406,609 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of NIKE by 4.8% in the second quarter. Van ECK Associates Corp now owns 6,257,863 shares of the footwear maker's stock worth $256,885,000 after acquiring an additional 286,395 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of NIKE by 92.3% during the third quarter. Assenagon Asset Management S.A. now owns 4,789,274 shares of the footwear maker's stock worth $169,540,000 after acquiring an additional 2,298,400 shares during the period. 64.25% of the stock is owned by institutional investors and hedge funds.

NIKE Company Profile

NIKE, Inc designs, develops, markets and sells athletic footwear, apparel, equipment and accessories for sports and fitness, as well as lifestyle products. Its portfolio includes the Nike and Jordan brands, and it owns Converse, which sells casual footwear, apparel and accessories.

The company sells products worldwide through wholesale partners and its own retail stores and digital platforms. Its offerings serve customers across a range of sports and activities, including running, basketball, soccer and training.

NIKE traces its roots to Blue Ribbon Sports, founded in 1964 by Phil Knight and Bill Bowerman.

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