Nike Inc. ($NKE) Stock Forecast: Down 6.4% Today

What is Nike Inc.?

Nike Inc. (NYSE: NKE) is a multinational corporation recognized for its athletic footwear, apparel, equipment, and accessories. It holds a prominent position in the sports industry on a global scale.

Why is Nike Inc. going down?

NKE stock is down 6.4% on Oct 2, 2024 18:42

• Following its first-quarter financial results, Nike's stock faced a downward trend due to a revenue shortfall compared to analysts' expectations.
• Several analysts have lowered their price targets for Nike, signaling a decreased confidence in the company's immediate performance.
• The underperformance of Nike has had a ripple effect on other firms in the footwear and athletic apparel sector, including Under Armour and Foot Locker, which have also witnessed declines in their stock values in correlation to Nike's situation.
• Investor sentiment appears cautious regarding Nike's capability to address upcoming challenges under the new leadership of CEO Elliot Hill, reflecting a sense of apprehension about the company's future prospects.

NKE Price Chart

NKE Technical Analysis

NKE News

Nike Stock Is Tumbling Wednesday: What's Going On? - Nike ( NYSE:NKE )

Nike Inc NKE shares are trading lower Wednesday on the heels of the company's first-quarter financial results. Multiple analysts lowered price targets on the stock following the print.

https://www.benzinga.com/news/earnings/24/10/41147332/nike-stock-is-tumbling-wednesday-whats-going-on

What's Going On With Under Armour Shares Wednesday? - Under Armour ( NYSE:UA )

Under Armour, Inc. UA stock is moving lower in sympathy with Nike which fell after reporting a first-quarter revenue miss. What To Know: Nike reported quarterly revenue of $11.59 billion, missing analysts estimate of $11.65 billion. The company broke down revenue further.

https://www.benzinga.com/news/24/10/41144902/whats-going-on-with-under-armour-shares-wednesday

Nike Stock Takes Hit After Q1 Earnings: Analysts Expect Comeback To Take Time With 'Uncertain Path' - Nike ( NYSE:NKE )

Nike Inc's NKE first-quarter financial results showed that a turnaround by incoming CEO Elliot Hill could take longer than expected and come with increasing challenges, according to analysts. RBC Capital analyst Piral Dadhania maintained a Sector Perform rating and lowered the price target from ...

https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41144670/nike-stock-takes-hit-after-q1-earnings-analysts-expect-comeback-to-take-time-with-u

Why Foot Locker ( FL ) Stock Is Down 3% Today - Foot Locker ( NYSE:FL )

Foot Locker Inc FL shares are trading lower by 3.82% to $24.16 during Wednesday's session. Shares of footwear and athletic apparel stocks are trading lower in sympathy with Nike Inc which reported first-quarter revenue that missed estimates.

https://www.benzinga.com/news/24/10/41144397/why-foot-locker-fl-stock-is-down-3-today

Nike Reports Weak Sales, Joins Lamb Weston And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session - Nike ( NYSE:NKE )

U.S. stock futures were lower this morning, with the Dow futures falling around 100 points on Wednesday. Shares of NIKE, Inc NKE fell sharply in today's pre-market trading following first-quarter results. The company reported first-quarter revenue of $11.59 billion, missing analyst estimates of ...

https://www.benzinga.com/news/24/10/41139547/nike-reports-weak-sales-joins-lamb-weston-and-other-big-stocks-moving-lower-in-wednesdays-pre-market

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Nike Inc. Price History

20.08.2024 - NKE Stock was up 6.2%

• Following the announcement of Elliott Hill as the new CEO, Nike's stock witnessed a strong bullish movement, underpinned by a focus on repairing retailer relations.
• Investor sentiment towards the company's strategy to rejuvenate sales was positive, reflecting a market response that favored the CEO transition.
• The selection of a company veteran to helm Nike indicates a commitment to continuity in vision and growth priorities.
• Despite encountering resistance around $88.50, the overall outlook on Nike appears upbeat, with the stock outperforming the market on the day.

20.08.2024 - NKE Stock was up 5.7%

• Nike's stock experienced a strong bullish movement following the announcement of Elliott Hill as the new CEO, signaling a positive market sentiment towards the leadership change.
• The focus on repairing retailer relations under Hill's leadership is likely seen as a strategic move to boost sales and strengthen partnerships within the industry.
• The market's positive reaction to the CEO transition reflects investor confidence in Nike's ability to navigate challenges and drive growth under new leadership.
• This shift in management could potentially lead to new strategies and initiatives that investors believe will drive the company's performance and enhance shareholder value in the long term.

02.09.2024 - NKE Stock was down 6.5%

• First-quarter revenue for Nike was slightly below analyst estimates, resulting in a bearish movement in the stock.
• The company is currently going through a reset phase due to criticism over innovation and market share loss to competitors.
• Investor uncertainty and negative market sentiment may be linked to the recent CEO transition at Nike.
• Despite the recent downturn, Nike has a history of outperforming the market, indicating long-term growth potential.

02.09.2024 - NKE Stock was down 6.0%

• Nike's first-quarter financial results fell short of analyst expectations, with revenue missing estimates, leading to a bearish sentiment among investors.
• The incoming CEO's turnaround efforts are anticipated to take longer than initially projected, adding to the uncertainty surrounding the stock.
• Foot Locker's stock also declined in sympathy with Nike, reflecting a broader trend in the footwear and athletic apparel sector.
• The overall market sentiment was negative, with U.S. stock futures trading lower, further contributing to the downward pressure on Nike's stock price.

02.09.2024 - NKE Stock was down 6.4%

• Following its first-quarter financial results, Nike's stock faced a downward trend due to a revenue shortfall compared to analysts' expectations.
• Several analysts have lowered their price targets for Nike, signaling a decreased confidence in the company's immediate performance.
• The underperformance of Nike has had a ripple effect on other firms in the footwear and athletic apparel sector, including Under Armour and Foot Locker, which have also witnessed declines in their stock values in correlation to Nike's situation.
• Investor sentiment appears cautious regarding Nike's capability to address upcoming challenges under the new leadership of CEO Elliot Hill, reflecting a sense of apprehension about the company's future prospects.

28.05.2024 - NKE Stock was down 20.4%

• Nike stock experienced a strong bearish movement following its Q4 earnings report.
• The market reacted negatively to Nike's worse-than-expected fourth-quarter revenue and weak forward guidance.
• The pressure on Nike's CEO, John Donahoe, adds to the uncertainty surrounding the company's leadership and future direction.
• The overall sentiment towards Nike is cautious as it faces revenue declines and market share challenges, signaling a potential transition year for the company.

28.05.2024 - NKE Stock was down 20.0%

• Nike (NKE) experienced a strong bearish movement today, with its stock falling over 20% after reporting worse-than-expected fourth-quarter revenue and weak forward guidance.
• The market reacted negatively to Nike's earnings report, where although the bottom line beat estimates, the top line missed and revenues fell year over year.
• The criticism faced by Nike's CEO for the company's underperformance and loss of market share under his leadership might have further contributed to the bearish sentiment surrounding the stock.
• The overall market sentiment was mixed and little changed, with U.S. equities reacting to reports of the Federal Reserve's preferred measure of inflation cooling in May, possibly adding to the cautious trading environment.

28.05.2024 - NKE Stock was down 20.6%

• Nike's stock plummeted by 20% following a fourth-quarter revenue decline of 2% year-over-year, falling short of analyst expectations.
• Despite beating the analyst estimate for adjusted EPS, the company's weak revenue and guidance for the upcoming fiscal year led to a massive sell-off.
• The announcement of launching new $100-and-under sneakers globally to attract budget shoppers might indicate a strategy shift to regain lost sales momentum.
• The market's reaction to Nike's poor performance reflects investors' concerns about the company's ability to navigate through a challenging product cycle transition and increasing competition in the industry.

13.07.2024 - NKE Stock was up 4.4%

• The upward trend in NKE stock today may be linked to investors' optimism regarding the company's resilience amidst an ongoing class action lawsuit.
• Despite legal hurdles, investors seem to be honing in on NIKE's strong brand reputation and market presence, bolstering the stock's positive movement.
• The looming deadline for the class action lawsuit might be prompting investor activity, resulting in increased trading volumes and a rise in the stock price.
• This bullish upswing indicates that market participants are evaluating potential legal outcomes and expressing confidence in NIKE's capacity to overcome the challenges ahead successfully.

13.07.2024 - NKE Stock was up 5.7%

• Nike stock surged over 5% higher today, despite the lack of any specific corporate news, indicating a strong positive sentiment among investors.
• Analysts' bullish assessments and reiterations of "buy" ratings on Nike stock, along with excitement over new product releases under popular franchises like Jordan and Dunk, contributed to the upward movement.
• The successful showcase at the Paris Olympics and the growing investor optimism following a softer-than-expected Producer Price Index (PPI) report may have further fueled the speculation and positive momentum in Nike stock.
• The availability of discounts on Nike workout gear through a coupon code might have also attracted more consumers, reflecting positively on the company's revenue potential and stock performance.

13.07.2024 - NKE Stock was up 5.6%

• The bullish movement in Nike's stock today can be attributed to multiple factors:
• Positive sentiment from investors taking a bullish stance on Nike, as indicated by the increase in options trading activity.
• The ongoing Gear Up for Fall event offering discounts on workout gear, which could be driving sales and boosting investor confidence in the company's revenue potential.
• Despite class action lawsuits against Nike for securities fraud, investors may be focusing more on the company's operational performance and growth prospects rather than legal challenges.
• Overall, the combination of positive investor sentiment, promotional activities, and a focus on core business operations likely contributed to the bullish movement in Nike's stock today.

15.07.2024 - NKE Stock was up 5.2%

• Nike's shares jumped by 3.3% in after-hours trading following news that a prominent investor built a stake in the company.
• The market reacted positively to the news of the investor showing confidence in Nike, indicating a boost in investor sentiment and confidence in the company's future prospects.
• The investor's move to take new stakes in Nike could have signaled to the market that there are potential growth opportunities and value in the company, leading to increased buying interest and driving the stock price higher.
• This bullish movement reflects the market's positive outlook on Nike's performance and potential for growth, fueled by the endorsement from a high-profile investor.