Nike Inc. Analyst Update

• Analyst: Williams Trading
• Rating: Buy
• Analyst Rank: #168
• Target Price: Upgraded from USD 67 to USD 93
• Date: August 16, 2024

Williams Trading (Analyst Rank #168) has upgraded Nike’s stock rating to “Buy,” significantly raising their target price from USD 67 to USD 93. This upgrade indicates strong confidence in Nike’s future performance and suggests that analysts expect substantial growth or improvement in the company’s market position.

NKE Stock Forecast & Analysis

Analyst Target Price:

• Average Target Price: According to 28 analysts, the average target price for Nike Inc’s stock is USD 105.21 for the next 12 months. This figure reflects a consensus among analysts about the stock’s potential value over the coming year and suggests a considerable upside from its current price level.

Analyst Rating:

• Overall Rating: Nike Inc has an average analyst rating of “Strong Buy.” This indicates a high level of confidence among analysts in the company’s future performance and growth potential. A “Strong Buy” rating typically reflects expectations of significant appreciation in stock value and a positive long-term outlook.

Stock Target Advisor’s Analysis:

• Advisor Rating: Stock Target Advisor’s own analysis of Nike Inc is “Slightly Bullish.” This rating is based on a combination of positive and negative signals:
  • Positive Signals: There are 10 positive signals that indicate favorable conditions or trends supporting the stock’s potential for growth. These could include factors like strong earnings reports, positive market trends, or effective management strategies.
  • Negative Signals: There are 6 negative signals that might point to potential risks or challenges, such as market volatility, competitive pressures, or other factors that could impact the stock’s performance.

Current Stock Price and Performance:

• Last Closing Price: At the last closing, Nike Inc’s stock price was USD 78.52. This is the current market value of the stock.
• Recent Price Changes:
  • Past Week: The stock price has increased by 8.12%. This short-term gain suggests positive recent developments or investor sentiment driving the stock higher.
  • Past Month: The stock price has risen by 6.95% over the past month, indicating continued positive momentum and stability in the near term.
  • Past Year: Over the last year, Nike Inc’s stock price has decreased by 26.31%. This significant decline over the past year highlights the challenges the company has faced or broader market trends impacting its stock performance.

Summary:

Nike Inc’s stock forecast presents a generally positive outlook based on analyst consensus and Stock Target Advisor’s evaluation. The average target price suggests substantial upside potential from the current stock price, which reflects optimism about Nike’s future growth. The “Strong Buy” rating from analysts supports this optimistic view, while Stock Target Advisor’s “Slightly Bullish” stance, despite some negative signals, suggests cautious optimism. The recent stock performance indicates a recovery trend in the short term, but the significant drop over the past year points to underlying issues or market challenges that investors should consider.

Investors should weigh these insights alongside other market factors and their investment strategies when making decisions regarding Nike Inc’s stock.