NIKE (NYSE:NKE) Given New $33.00 Price Target at JPMorgan Chase & Co.

by · The Cerbat Gem

NIKE (NYSE:NKE – Get Free Report) had its price target dropped by research analysts at JPMorgan Chase & Co. from $40.00 to $33.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the footwear maker’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential downside of 0.37% from the stock’s previous close.

Several other equities analysts have also issued reports on NKE. BNP Paribas Exane set a $19.00 price objective on shares of NIKE in a report on Friday. Berenberg Bank set a $49.00 target price on NIKE and gave the stock a “hold” rating in a report on Friday, July 3rd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $30.00 target price on shares of NIKE in a research report on Friday. China Renaissance cut their price target on NIKE from $50.30 to $47.30 and set a “hold” rating on the stock in a report on Thursday, July 2nd. Finally, Zacks Research raised NIKE from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, twenty-two have issued a Hold rating and seven have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $42.06.

Check Out Our Latest Report on NKE

NIKE Trading Down 5.8%

NKE traded down $2.03 during trading on Friday, reaching $33.12. The company had a trading volume of 82,663,584 shares, compared to its average volume of 23,793,145. The business has a 50 day simple moving average of $39.04 and a 200-day simple moving average of $42.94. The stock has a market cap of $49.14 billion, a P/E ratio of 15.87, a PEG ratio of 2.43 and a beta of 1.09. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 0.40. NIKE has a 52 week low of $31.97 and a 52 week high of $74.78.

NIKE (NYSE:NKE – Get Free Report) last released its quarterly earnings data on Thursday, October 1st. The footwear maker reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.05. NIKE had a return on equity of 16.54% and a net margin of 6.70%.The firm had revenue of $11.21 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same period in the previous year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. NIKE has set its FY 2027 guidance at 1.150-1.350 EPS. On average, equities analysts anticipate that NIKE will post 1.61 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Venkatesh Alagirisamy sold 3,671 shares of the company’s stock in a transaction dated Wednesday, September 9th. The stock was 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 directly owned 104,862 shares of the company’s stock, valued at approximately $3,941,762.58. This represents a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $37.59, for a total value of $96,192.81. Following the sale, the executive vice president directly owned 78,121 shares in the company, valued at $2,936,568.39. This trade represents a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,974 shares of company stock valued at $600,126 in the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NKE. J. Stern & Co. LLP grew its holdings in shares of NIKE by 49,010.4% during the fourth quarter. J. Stern & Co. LLP now owns 48,054,542 shares of the footwear maker’s stock worth $3,061,555,000 after buying an additional 47,956,692 shares during the last quarter. Flossbach Von Storch SE acquired a new position in shares of NIKE in the second quarter valued at approximately $488,714,000. Capital World Investors increased its holdings in shares of NIKE by 16.2% in the fourth quarter. Capital World Investors now owns 49,069,951 shares of the footwear maker’s stock valued at $3,126,246,000 after purchasing an additional 6,830,938 shares during the period. State Street Corp raised its stake in shares of NIKE by 6.8% during the second quarter. State Street Corp now owns 63,598,789 shares of the footwear maker’s stock worth $2,636,104,000 after purchasing an additional 4,052,428 shares during the last quarter. Finally, Capital International Investors grew its position in NIKE by 83.3% in the 4th quarter. Capital International Investors now owns 7,642,382 shares of the footwear maker’s stock valued at $486,895,000 after buying an additional 3,472,515 shares during the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

More NIKE News

Here are the key news stories impacting NIKE this week:

  • Positive Sentiment: NIKE reported fiscal first-quarter adjusted earnings of $0.48 per share, exceeding the $0.43 analyst consensus. The company also said its “Sport Offense” is making progress, while its new Caitlin Clark signature shoe nearly sold out shortly after launch. NIKE fiscal 2027 first-quarter results
  • Positive Sentiment: NIKE’s Pace restructuring program is intended to generate approximately $2.5 billion in savings over the next three years, potentially improving efficiency and supporting a longer-term recovery. NIKE announces Pace restructuring plan
  • Neutral Sentiment: Analysts lowered price targets following the results: Baird and Stifel reduced targets to $36, while BTIG cut its target to $50 but retained a Buy rating. Needham reaffirmed a Hold rating, reflecting uncertainty about the recovery. Analyst reactions to NIKE results
  • Negative Sentiment: Revenue was $11.21 billion, below the $11.32 billion consensus and down 4.3% year over year. The shortfall indicates that demand remains weak even though earnings surpassed expectations. NIKE first-quarter earnings report
  • Negative Sentiment: Management expects fiscal 2027 revenue to decline by a high-single-digit percentage and provided EPS guidance of $1.15 to $1.35, well below the roughly $1.66 analyst expectation. The company warned that resets in Sportswear, Jordan and Greater China will worsen before improving, particularly as local competition pressures China sales. NIKE forecasts steep revenue drop
  • Negative Sentiment: NIKE plans additional job cuts in fiscal 2027 after two rounds of staff reductions this year. The layoffs and restructuring announcement signal that management expects a longer, more painful turnaround, weighing on investor confidence despite the company’s dividend yield approaching 5%. NIKE shares fall after weak outlook and layoffs

NIKE Company Profile

(Get Free Report)

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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