Nike Is Still Searching for Its Turnaround As Wall Street Sees Another Tough Year
Nike stock drops to a 52-week low after Q1 revenue missed estimates and the company issued a weak fiscal 2027 sales outlook.
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Truist Securities Maintains Hold on Nike, Lowers Price Target to $29
Truist Securities analyst Joseph Civello maintains Nike (NYSE:NKE) with a Hold and lowers the price target from $42 to $29.
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JP Morgan Maintains Underweight on Nike, Lowers Price Target to $33
JP Morgan analyst Matthew Boss maintains Nike (NYSE:NKE) with a Underweight and lowers the price target from $40 to $33.
Why Nike Stock Just Crashed
Nike stock tumbled 5.4% after reporting mixed Q1 fiscal 2027 earnings. While the company beat earnings expectations ($0.48 vs. $0.44 expected), it missed on revenue ($11.21B vs. $11.35B expected) and cut full-year guidance, predicting earnings could decline nearly 50% to $1.00-$1.20 per share. Declining sales in China and Europe, along with an 8% drop in direct-to-consumer Nike Digital sales, drove the disappointing outlook.