Nike, Inc. (NKE) Stock Short-term Performance Analysis

A share price of Nike, Inc. [NKE] is currently trading at $101.36, up 1.18%. An important factor to consider is whether the stock is rising or falling in short-term value. The NKE shares have gain 3.82% over the last week, with a monthly amount drifted -5.43%, and not seem to be holding up well over a long-time horizon.

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On 22, February 2024, NIKE, Inc. Announces Third Quarter Fiscal 2024 Earnings and Conference Call. In a post published today on Yahoo Finance, NIKE, Inc. (NYSE: NKE) plans to release its third quarter fiscal 2024 financial results on Thursday, March 21, 2024, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. Following the news release, NIKE, Inc. management will host a conference call beginning at 2:00 p.m. PT to review results.

From an analyst’s perspective:

Nike, Inc. [NYSE: NKE] stock has seen the most recent analyst activity on February 16, 2024, when Oppenheimer downgraded its rating to a Perform. Previously, HSBC Securities reaffirmed its Hold rating on January 22, 2024, and dropped its price target to $116. On January 22, 2024, HSBC Securities reiterated its Hold rating and revised its price target to $115 on the stock. TD Cowen downgraded its rating to a Market Perform and decreased its price target to $104 on December 22, 2023. Telsey Advisory Group reiterated its recommendation of a Outperform and raised its price target to $140 on December 15, 2023. RBC Capital Mkts reiterated a Outperform rating for this stock on December 14, 2023, and upped its price target to $127. In a note dated December 12, 2023, DZ Bank upgraded an Buy rating on this stock but restated the target price of $130.

Nike, Inc. experienced fluctuations in its stock price throughout the past year between $88.66 and $128.68. Currently, Wall Street analysts expect the stock to reach $137.97 within the next 12 months. Nike, Inc. [NYSE: NKE] shares were valued at $101.36 at the most recent close of the market. An investor can expect a potential return of 36.12% based on the average NKE price forecast.

Analyzing the NKE fundamentals

Trailing Twelve Months sales for Nike, Inc. [NYSE:NKE] were 51.51B which represents 0.56% growth. Gross Profit Margin for this corporation currently stands at 0.44% with Operating Profit Margin at 0.11%, Pretax Profit Margin comes in at 0.12%, and Net Profit Margin reading is 0.1%. To continue investigating profitability, this company’s Return on Assets is posted at 0.14, Equity is 0.37 and Total Capital is 0.2. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.86.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 100.46 points at the first support level, and at 99.56 for the second support level. However, for the 1st resistance point, the stock is sitting at 102.13, and for the 2nd resistance point, it is at 102.90.

Nike, Inc. [NKE] reported earnings per share of $1.03 for its fiscal quarter that ended on 11/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.85/share, meaning a difference of $0.18 and a surprise factor of 21.20%. By comparison, the stated earnings for the previous quarter ended on 8/30/2023 were $0.94 per share as compared to estimates of $0.74 per share, a difference of $0.2 representing a surprise of 27.00%.

Ratios To Look Out For

To put it in perspective, the Current Ratio for Nike, Inc. [NYSE:NKE] is 2.74. On the other hand, the Quick Ratio is 1.85, and the Cash Ratio is 0.88. Considering the valuation of this stock, the price to sales ratio is 2.98, the price to book ratio is 10.87 and price to earnings (TTM) ratio is 29.60.

Transactions by insiders

Recent insider trading involved PARKER MARK G, EXECUTIVE CHAIRMAN, that happened on Feb 14 ’24 when 0.17 million shares were sold. EVP: CHRO, Matheson Monique S. completed a deal on Dec 11 ’23 to sell 10000.0 shares. Meanwhile, EXECUTIVE CHAIRMAN PARKER MARK G sold 58091.0 shares on Oct 16 ’23.

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