NIKE's (NKE) "Hold" Rating Reiterated at Needham & Company LLC

Key Points

• Needham reaffirmed its “Hold” rating on NIKE, while the broader analyst consensus remains “Hold” with an average price target of $44.47. Recent targets ranged from $29 to $48, reflecting mixed views.
• NIKE shares opened at $35.05, near their 52-week low of $35.02, after falling 1%. The company reported quarterly EPS of $0.48, beating estimates of $0.43, but revenue declined 4.3% year over year to $11.21 billion and missed expectations.
• Insiders sold 14,974 shares worth approximately $600,126 in the last quarter, while institutional ownership remains high at 64.25%; several major investors increased their positions.

NIKE (NYSE:NKE - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Needham & Company LLC in a research note issued on Friday, Benzinga reports.

Other analysts have also issued reports about the company. CICC Research decreased their price target on NIKE from $58.00 to $44.80 and set a "neutral" rating on the stock in a research note on Thursday, July 2nd. DZ Bank reiterated a "buy" rating on shares of NIKE in a report on Tuesday, June 30th. Truist Financial set a $29.00 price objective on NIKE in a report on Friday. Rothschild & Co Redburn dropped their target price on shares of NIKE from $45.00 to $37.00 and set a "sell" rating for the company in a research report on Friday, July 17th. Finally, Barclays reiterated an "overweight" rating and set a $48.00 price objective (down from $52.00) on shares of NIKE in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twenty have given a Hold rating and eight have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $44.47.

NIKE Stock Down 1.0%

NIKE stock opened at $35.05 on Friday. The company has a market capitalization of $51.99 billion, a P/E ratio of 16.77, a PEG ratio of 2.43 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.36 and a current ratio of 1.96. NIKE has a fifty-two week low of $35.02 and a fifty-two week high of $76.97. The stock has a 50-day simple moving average of $39.04 and a 200-day simple moving average of $42.94.

NIKE (NYSE:NKE - Get Free Report) last released its earnings results on Thursday, October 1st. The footwear maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.05. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The business had revenue of $11.21 billion for the quarter, compared to analyst estimates of $11.32 billion. During the same quarter in the previous year, the company posted $0.49 earnings per share. The company's revenue for the quarter was down 4.3% compared to the same quarter last year. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. Equities research analysts expect that NIKE will post 1.61 earnings per share for the current year.

Insider Activity

In other news, insider Amy Montagne sold 4,867 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $42.05, for a total transaction of $204,657.35. Following the completion of the transaction, the insider directly owned 57,436 shares in the company, valued at approximately $2,415,183.80. The trade was a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Venkatesh Alagirisamy sold 3,671 shares of NIKE 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 sale, the chief operating officer owned 104,862 shares in the company, valued at approximately $3,941,762.58. This represents a 3.38% 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. In the last quarter, insiders have sold 14,974 shares of company stock valued at $600,126. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NKE. Westerkirk Capital Inc. boosted its position in shares of NIKE by 52.4% during the 4th quarter. Westerkirk Capital Inc. now owns 131,220 shares of the footwear maker's stock worth $8,360,000 after acquiring an additional 45,100 shares in the last quarter. OMERS ADMINISTRATION Corp raised its stake in NIKE by 77.9% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 2,526,179 shares of the footwear maker's stock worth $160,943,000 after acquiring an additional 1,106,499 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of NIKE by 32.8% during the 2nd quarter. OneDigital Investment Advisors LLC now owns 244,296 shares of the footwear maker's stock valued at $10,028,000 after purchasing an additional 60,375 shares during the last quarter. Deutsche Bank AG grew its position in NIKE by 8.0% during the 2nd quarter. Deutsche Bank AG now owns 3,566,634 shares of the footwear maker's stock worth $146,410,000 after acquiring an additional 264,576 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new position in shares of NIKE in the second quarter valued at approximately $2,459,000. 64.25% of the stock is owned by hedge funds and other institutional investors.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE reported quarterly EPS of $0.48, ahead of the $0.43 analyst consensus. The company also said its performance-focused business is showing progress, which could support the longer-term recovery. NIKE fiscal 2027 first-quarter results
• Positive Sentiment: Demand for Nike’s first Caitlin Clark signature shoe was strong, with the Caitlin 1 nearly selling out shortly after launch, providing a potential product and marketing catalyst. Nike Caitlin Clark shoes

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.

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