Nike Inc (NYSE: NKE) has lost about 10% this year but a Deutsche Bank analyst is convinced the story moving forward will be a different one. Nike stock has upside to $115 Krisztina Katai resumed coverage of Nike stock this morning with a “buy” rating.
Goldman Sachs analyst Brooke Roach reiterated a Buy rating on the shares of Nike Inc NKE with a price target of $118.00. Nike's F4Q earnings result is scheduled for June 27.
Nike (NKE) reachead $95.87 at the closing of the latest trading day, reflecting a -0.14% change compared to its last close.
The latest trading day saw Nike (NKE) settling at $96, representing a -0.57% change from its previous close.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Zacks.com users have recently been watching Nike (NKE) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Sneaker giant Nike (NYSE: NKE ) is continuing to cut staff, this time at its European headquarters. The latest Nike layoffs are part of a plan to reduce the firm's headcount by 2% overall, cutting some 1,500 positions.
Nike's stock (NYSE: NKE), a company designing, developing, and marketing footwear, apparel, equipment, and accessory products, currently trades at $94 per share, around 47% below its level of $176 seen on November 7, 2021 (pre-inflation shock high), and has the potential for gains.
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A preeminent brand has been key to Nike's lasting relevance. However, macro headwinds have pressured sales growth.
Nike, Inc. has historically offered good buy-on-the-dip opportunities and remains a high-quality business with potential for high returns on invested capital. Similar periods of weakness in Nike have been followed by strong outperformance, making it a recurring buy on the dip play. The current conditions, including margins, valuation multiples, and short-term trends, suggest that Nike may be at a great entry point for investment.
In theory, Nike should be killing it, as demand for athletic sneakers has been strong. But the apparel maker's stock is down by a double-digit percentage year to date.