Can Nike, Inc. (NKE) stock recover despite sales dropping?

In yesterday’s Wall Street session, Nike, Inc. (NYSE:NKE) shares traded at $105.96, down -1.53% from the previous session.

36 analysts cover Nike, Inc. (NYSE:NKE), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $150.00 and a low of $88.00, we find $120.00. Given the previous closing price of $107.61, this indicates a potential upside of 11.51 percent. NKE stock price is now 6.40% away from the 50-day moving average and -4.47% away from the 200-day moving average. The market capitalization of the company currently stands at $161.27B.

The stock has received a hold rating from 12 analysts and a buy rating from 17. Brokers who have rated the stock have averaged $119.47 as their price target over the next twelve months.

With the price target of $108, Truist recently initiated with Hold rating for Nike, Inc. (NYSE: NKE).

In other news, PARKER MARK G, EXECUTIVE CHAIRMAN sold 58,091 shares of the company’s stock on Oct 16. The stock was sold for $5,785,864 at an average price of $99.60. Upon completion of the transaction, the EXECUTIVE CHAIRMAN now directly owns 1,255,600 shares in the company, valued at $133.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 02, Director SWAN ROBERT HOLMES bought 13,072 shares of the business’s stock. A total of $1,256,611 was incurred on buying the stock at an average price of $96.13. This leaves the insider owning 18,005 shares of the company worth $1.91 million. Insiders disposed of 5,566,581 shares of company stock worth roughly $589.83 million over the past 1 year. A total of 22.28% of the company’s stock is owned by insiders.

On Friday morning Nike, Inc. (NYSE: NKE) stock kicked off with the opening price of $108.06. During the past 12 months, Nike, Inc. has had a low of $88.66 and a high of $131.31. As of last week, the company has a debt-to-equity ratio of 0.87, a current ratio of 2.87, and a quick ratio of 1.84. According to the stock market information, the enterprise value for the company is $164.65B, which is based on a 32.69 price-to-earnings ratio, a 2.26 price-to-earnings-growth ratio, and a beta of 1.08. The fifty day moving average price for NKE is $99.75 and a two-hundred day moving average price translates $110.80 for the stock.

The latest earnings results from Nike, Inc. (NYSE: NKE) was released for Aug, 2023. According to the Footwear & Accessories Company, earnings per share came in at $0.94, beating analysts’ expectations of $0.74 by 0.2. This compares to $0.93 EPS in the same period last year. The net profit margin was 9.82% and return on equity was 33.91% for NKE. The company reported revenue of $12.94 billion for the quarter, compared to $12.69 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.99 percent. For the current quarter, analysts expect NKE to generate $13.43B in revenue.

Nike, Inc.(NKE) Company Profile

NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks. It also sells a line of performance equipment and accessories comprising bags, sport balls, socks, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities under the NIKE brand; and various plastic products to other manufacturers. In addition, the company markets apparel with licensed college and professional team, and league logos, as well as sells sports apparel; and licenses unaffiliated parties to manufacture and sell apparel, digital devices, and applications and other equipment for sports activities under NIKE-owned trademarks. It sells its products to footwear stores; sporting goods stores; athletic specialty stores; department stores; skate, tennis, and golf shops; and other retail accounts through NIKE-owned retail stores, digital platforms, independent distributors, licensees, and sales representatives. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.