NIKE (NYSE:NKE) Price Target Lowered to $60.00 at Oppenheimer

Key Points

• Oppenheimer cut its price target on NIKE from $120 to $60, while keeping an “outperform” rating. The new target still implies significant upside from the prior close, but it reflects a much more cautious view.
• Wall Street sentiment remains mixed to bearish on the stock, with several firms recently lowering targets or issuing neutral/sell views. MarketBeat data shows an average analyst rating of “Hold” and an average target price of $59.42.
• NIKE shares were trading near their 52-week low at $40.43, down 1.1% on the day. The company’s latest earnings beat expectations, but revenue growth was nearly flat and analysts still expect modest full-year EPS of $1.49.

NIKE (NYSE:NKE - Get Free Report) had its target price dropped by investment analysts at Oppenheimer from $120.00 to $60.00 in a research note issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the footwear maker's stock. Oppenheimer's price target would suggest a potential upside of 48.40% from the company's previous close.

A number of other research analysts also recently weighed in on NKE. UBS Group set a $50.00 price target on NIKE and gave the company a "neutral" rating in a research report on Wednesday, June 10th. Berenberg Bank reissued a "neutral" rating on shares of NIKE in a research report on Wednesday, May 6th. Jefferies Financial Group lowered their price objective 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. Weiss Ratings lowered shares of NIKE from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, June 8th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $55.00 price target (down from $75.00) on shares of NIKE in a research note on Thursday. Fourteen 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 data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $59.42.

NIKE Trading Down 1.1%

NIKE stock opened at $40.43 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.45 and a current ratio of 2.14. NIKE has a 1 year low of $40.44 and a 1 year high of $80.17. The firm's 50-day moving average is $44.29 and its 200-day moving average is $54.05. The company has a market cap of $59.87 billion, a P/E ratio of 26.64, a PEG ratio of 1.81 and a beta of 1.12.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings data on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.06. NIKE had a return on equity of 16.41% and a net margin of 4.84%.The business had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The business's revenue was up .1% on a year-over-year basis. On average, equities analysts expect that NIKE will post 1.49 earnings per share for the current year.

Insider Activity at NIKE

In other NIKE news, Director Timothy D. Cook bought 25,000 shares of NIKE stock in a transaction that occurred on Friday, April 10th. The stock was acquired at an average price of $42.43 per share, for a total transaction of $1,060,750.00. Following the completion of the acquisition, the director owned 130,480 shares of the company's stock, valued at $5,536,266.40. This trade represents a 23.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan acquired 11,781 shares of the stock in a transaction dated Tuesday, April 7th. The shares were purchased at an average price of $42.44 per share, for a total transaction of $499,985.64. Following the completion of the purchase, the director directly owned 55,074 shares in the company, valued at $2,337,340.56. The trade was a 27.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 64,441 shares of company stock worth $2,734,204. 0.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in NIKE by 388.5% in the 4th quarter. Brighton Jones LLC now owns 202,411 shares of the footwear maker's stock worth $15,316,000 after purchasing an additional 160,980 shares in the last quarter. Caxton Associates LLP acquired a new stake in shares of NIKE in the first quarter valued at about $311,000. United Bank lifted its stake in shares of NIKE by 11.3% in the second quarter. United Bank now owns 17,067 shares of the footwear maker's stock worth $1,212,000 after acquiring an additional 1,736 shares during the period. NewEdge Advisors LLC lifted its position in shares of NIKE by 0.3% in the 2nd quarter. NewEdge Advisors LLC now owns 64,161 shares of the footwear maker's stock worth $4,558,000 after purchasing an additional 197 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in NIKE by 6.5% in the second quarter. CIBC Asset Management Inc now owns 191,268 shares of the footwear maker's stock valued at $13,588,000 after buying an additional 11,646 shares during the period. 64.25% of the stock is owned by institutional investors.

Key NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: NIKE named former Pfizer CFO David Denton as its new finance chief, a move that could bring added financial discipline and support the company’s long-term turnaround efforts. Nike names former Pfizer CFO David Denton as finance chief
• Positive Sentiment: Sanford C. Bernstein reaffirmed its buy rating on NIKE, suggesting some analysts still see value in the shares despite the recent weakness. Nike Inc. Receives a Buy Rating From Bernstein
• Neutral Sentiment: Analysts and media coverage ahead of the June 30 earnings release say NIKE’s results may matter less than management’s guidance, especially what it says about fiscal 2027 and the pace of any sales recovery.
• Neutral Sentiment: Investor attention is also on Nike’s upcoming Q4 report, with some commentary framing it as a test of whether the company can find a bottom rather than deliver meaningful growth right away. Nike’s Q4 Is Less about Growth and More about Finding a Floor
• Negative Sentiment: KeyBanc warned that uncertainty in China and EMEA, plus the management transition, is clouding the outlook and making it harder to stay optimistic. NKE Stock Heads For Its Worst Week In Nearly Three Months
• Negative Sentiment: Other analyst notes described Nike’s China strategy as a misstep and said the turnaround remains incomplete, reinforcing concerns that the stock may stay under pressure until evidence of a sales inflection appears. NKE Stock Slips On China Business Strategy Misstep And Surprise CFO Change Before Earnings

About NIKE

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.