Robert W. Baird Has Lowered Expectations for NIKE (NYSE:NKE) Stock Price

Key Points

• Robert W. Baird cut NIKE’s price target from $44 to $36 and maintained a “neutral” rating, implying only 2.72% upside from the stock’s $35.05 price.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $44.47; NIKE shares are near their 52-week low of $35.02.
• NIKE beat quarterly earnings expectations with EPS of $0.48 versus $0.43 expected, but revenue fell 4.3% year over year to $11.21 billion, underscoring ongoing business challenges.

NIKE (NYSE:NKE - Get Free Report) had its price objective cut by investment analysts at Robert W. Baird from $44.00 to $36.00 in a report released on Friday, Benzinga reports. The firm presently has a "neutral" rating on the footwear maker's stock. Robert W. Baird's price objective would suggest a potential upside of 2.72% from the stock's current price.

Other equities research analysts also recently issued reports about the company. UBS Group set a $42.00 price objective on NIKE and gave the company a "neutral" rating in a report on Thursday, September 17th. China Renaissance dropped their target price on NIKE from $50.30 to $47.30 and set a "hold" rating for the company in a report on Thursday, July 2nd. Zacks Research upgraded NIKE from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 19th. Truist Financial set a $42.00 price target on NIKE and gave the company a "hold" rating in a research note on Wednesday, August 26th. Finally, Evercore dropped their price objective on NIKE from $46.00 to $34.00 in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, twenty have issued a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $44.47.

NIKE Price Performance

NYSE:NKE opened at $35.05 on Friday. The company has a 50-day moving average of $39.04 and a 200-day moving average of $42.94. The company has a market capitalization of $51.99 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.43 and a beta of 1.09. NIKE has a 52 week low of $35.02 and a 52 week high of $76.97. 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 (NYSE:NKE - Get Free Report) last posted its earnings results 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 for the quarter, compared to analysts' expectations of $11.32 billion. NIKE had a net margin of 6.70% and a return on equity of 16.54%. The firm's revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm 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 anticipate that NIKE will post 1.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Matthew Friend sold 2,463 shares of the firm's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $41.60, for a total transaction of $102,460.80. Following the completion of the sale, the chief financial officer directly owned 82,165 shares of the company's stock, valued at $3,418,064. This trade represents a 2.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Venkatesh Alagirisamy sold 3,671 shares of NIKE stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $37.59, for a total value of $137,992.89. Following the completion of the transaction, the chief operating officer owned 104,862 shares of the company's stock, valued at approximately $3,941,762.58. The trade was a 3.38% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,974 shares of company stock valued at $600,126 in the last 90 days. Insiders own 1.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Financial Management LLC bought a new position in shares of NIKE in the fourth quarter worth about $26,000. Sankala Group LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in shares of NIKE during the first quarter valued at approximately $25,000. Meeder Asset Management Inc. grew its stake in shares of NIKE by 108.4% during the first quarter. Meeder Asset Management Inc. now owns 548 shares of the footwear maker's stock valued at $29,000 after purchasing an additional 285 shares during the last quarter. Finally, Atlas Wealth LLC acquired a new stake in shares of NIKE in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 64.25% of the company's stock.

Key Stories Impacting NIKE

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

NIKE Company Profile

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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