Piper Sandler Cuts NIKE (NYSE:NKE) Price Target to $60.00

Key Points

• Piper Sandler cut its price target to $60 (from $75) but kept an "overweight" rating, a level that the firm says implies roughly a 33% upside from the stock's then-current price.
• Shares plunged about 14.8% to $45.01 on heavy volume after the quarter, leaving the stock near its 12‑month low and well below its 50- and 200-day moving averages.
• Q3 beat estimates on EPS ($0.35 vs. $0.29) and revenue ($11.28B), but management's weak Q4 guidance, Greater China softness and intentional inventory actions that pressure margins prompted several analysts to cut targets or downgrade coverage.

NIKE (NYSE:NKE - Get Free Report) had its price target lowered by Piper Sandler from $75.00 to $60.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the footwear maker's stock. Piper Sandler's price target suggests a potential upside of 33.31% from the stock's current price.

A number of other research firms have also recently commented on NKE. Needham & Company LLC cut shares of NIKE from a "buy" rating to a "hold" rating in a research note on Thursday, January 8th. The Goldman Sachs Group reissued a "neutral" rating and issued a $52.00 price objective on shares of NIKE in a research report on Wednesday. Royal Bank Of Canada reissued an "outperform" rating and issued a $78.00 price objective on shares of NIKE in a research note on Thursday, March 5th. Williams Trading cut their target price on NIKE from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, December 19th. Finally, Argus reduced their price target on NIKE from $85.00 to $70.00 in a report on Tuesday, December 23rd. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.10.

NIKE Trading Down 14.8%

Shares of NYSE NKE traded down $7.81 during trading hours on Wednesday, hitting $45.01. 77,884,329 shares of the company traded hands, compared to its average volume of 16,982,994. The company's 50 day moving average price is $59.68 and its 200 day moving average price is $63.66. NIKE has a 12 month low of $45.11 and a 12 month high of $80.17. The stock has a market capitalization of $66.63 billion, a price-to-earnings ratio of 26.47, a price-to-earnings-growth ratio of 2.69 and a beta of 1.27. The company has a current ratio of 2.06, a quick ratio of 1.40 and a debt-to-equity ratio of 0.50.

NIKE (NYSE:NKE - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The footwear maker reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.06. The company had revenue of $11.28 billion during the quarter, compared to the consensus estimate of $11.23 billion. NIKE had a return on equity of 18.43% and a net margin of 5.43%.NIKE's revenue was up .1% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. On average, equities research analysts anticipate that NIKE will post 2.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NIKE

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of NIKE by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 116,993,541 shares of the footwear maker's stock valued at $7,453,658,000 after acquiring an additional 1,702,342 shares in the last quarter. State Street Corp grew its stake in NIKE by 2.2% in the fourth quarter. State Street Corp now owns 59,315,606 shares of the footwear maker's stock worth $3,802,807,000 after purchasing an additional 1,275,494 shares in the last quarter. Capital World Investors grew its stake in NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker's stock worth $3,126,246,000 after purchasing an additional 6,830,938 shares in the last quarter. J. Stern & Co. LLP increased its holdings in NIKE by 49,010.4% during the 4th quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker's stock worth $3,061,555,000 after purchasing an additional 47,956,692 shares during the period. Finally, Geode Capital Management LLC increased its holdings in NIKE by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 26,442,879 shares of the footwear maker's stock worth $1,677,251,000 after purchasing an additional 233,925 shares during the period. 64.25% of the stock is currently owned by institutional investors.

More NIKE News

Here are the key news stories impacting NIKE this week:

• Positive Sentiment: Q3 results beat estimates on both top and bottom lines (EPS $0.35 vs. ~$0.29 consensus; revenue ~$11.28B roughly in line-to-slightly-above expectations), showing the turnaround still produces tangible operational progress. NIKE, Inc. Reports Fiscal 2026 Third Quarter Results
• Neutral Sentiment: Management says the company has taken intentional actions (clearing unhealthy inventory, rebalancing wholesale vs. DTC) that pressure near‑term margins but are intended to set up later improvement — a strategic move that could pay off but delays visible recovery. Nike Takes 'Intentional' Hit To Clear 'Unhealthy Inventory' In Q3 As CEO Eyes Turnaround By Year-End
• Negative Sentiment: Weak guidance drove the selloff: Nike guided fiscal Q4 revenue to decline (company-range), below Street expectations, and warned Greater China sales will remain soft — management said the China reset could take multiple quarters. Nike Stock Sinks to Lowest Level Since 2014 as Weak Sales Outlook Spooks Investors
• Negative Sentiment: Margin pressure from tariffs, promotions and inventory actions pushed operating profit and net income materially lower year‑over‑year, undercutting confidence in a near‑term margin rebound. Nike third-quarter sales beat estimates as turnaround efforts gain traction
• Negative Sentiment: Analysts reacted quickly: multiple firms cut price targets or downgraded forecasts (Wells Fargo, Truist, Telsey and others), amplifying downward pressure and raising the risk of further revision. These Analysts Cut Their Forecasts On Nike After Q3 Results
• Negative Sentiment: Investor sentiment soured after candid executive comments about the slow turnaround — headlines and tone (including a blunt CEO remark) reinforced the view that recovery is taking longer than planned. Nike CEO vents as company struggles to regain footing after disappointing profits : ‘I'm so tired'

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).

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