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These Analysts Revise Their Forecasts On Nike Following Q4 Results

NIKE, Inc. (NYSE: NKE) reported downbeat earnings for its fourth quarter, while sales topped estimates.
byLisa Levin
June 30, 2023
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NIKE, Inc. (NYSE:NKE) reported downbeat earnings for its fourth quarter, while sales topped estimates.

Nike reported fourth quarter revenue of $12.82 billion, which was up 10% year-over-year. The revenue beat a Street consensus estimate of $12.59 billion. Fourth quarter earnings per share were 66 cents, which missed a Street consensus estimate of 67 cents.

Nike shares fell 2.9% to $110.10 in pre-market trading.

These analysts made changes to their price targets on Nike following earnings announcement.

  • Raymond James cut the price target on Nike from $135 to $128. Raymond James analyst Rick Patel maintained an Outperform rating.
  • JP Morgan slashed the price target on Nike from $146 to $142. JP Morgan analyst Matthew Korn maintained an Overweight rating.
  • Wedbush raised Nike price target from $129 to $131. Wedbush analyst Tom Nikic maintained the stock with an Outperform rating.

 

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