Needham & Company LLC Reiterates Buy Rating for NIKE (NYSE:NKE)

NIKE (NYSE:NKE - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They currently have a $84.00 price target on the footwear maker's stock. Needham & Company LLC's target price would indicate a potential upside of 9.18% from the stock's current price.

Several other research analysts have also recently weighed in on NKE. Guggenheim reduced their price target on shares of NIKE from $115.00 to $110.00 and set a "buy" rating for the company in a report on Wednesday, October 2nd. Barclays reduced their target price on shares of NIKE from $81.00 to $79.00 and set an "equal weight" rating for the company in a research note on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft dropped their price target on NIKE from $92.00 to $82.00 and set a "buy" rating on the stock in a research note on Monday. Royal Bank of Canada cut their price target on NIKE from $82.00 to $80.00 and set a "sector perform" rating on the stock in a report on Thursday, November 7th. Finally, Truist Financial upgraded NIKE from a "hold" rating to a "buy" rating and increased their price objective for the stock from $83.00 to $97.00 in a report on Thursday, October 10th. Fifteen research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $89.77.

NIKE Trading Down 0.2 %

NYSE:NKE traded down $0.16 on Friday, reaching $76.94. The company's stock had a trading volume of 49,808,547 shares, compared to its average volume of 11,716,173. NIKE has a 1-year low of $70.75 and a 1-year high of $123.30. The business's 50-day moving average price is $78.18 and its two-hundred day moving average price is $80.77. The firm has a market cap of $115.36 billion, a PE ratio of 22.05, a PEG ratio of 1.89 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36.

NIKE (NYSE:NKE - Get Free Report) last released its quarterly earnings data on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.15. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $12.35 billion for the quarter, compared to analysts' expectations of $12.11 billion. During the same quarter in the previous year, the business posted $1.03 EPS. NIKE's revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts anticipate that NIKE will post 2.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NIKE

Hedge funds have recently added to or reduced their stakes in the business. Garrison Point Advisors LLC raised its position in shares of NIKE by 1.9% in the third quarter. Garrison Point Advisors LLC now owns 6,704 shares of the footwear maker's stock valued at $593,000 after purchasing an additional 126 shares during the period. Stephens Consulting LLC grew its position in shares of NIKE by 20.0% in the third quarter. Stephens Consulting LLC now owns 768 shares of the footwear maker's stock valued at $68,000 after purchasing an additional 128 shares during the last quarter. PSI Advisors LLC increased its stake in shares of NIKE by 26.3% during the third quarter. PSI Advisors LLC now owns 624 shares of the footwear maker's stock worth $55,000 after purchasing an additional 130 shares during the period. Chapin Davis Inc. lifted its holdings in NIKE by 1.2% during the 3rd quarter. Chapin Davis Inc. now owns 11,430 shares of the footwear maker's stock worth $1,010,000 after purchasing an additional 133 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its stake in NIKE by 1.6% in the 3rd quarter. Meridian Financial Partners LLC now owns 8,396 shares of the footwear maker's stock valued at $742,000 after purchasing an additional 133 shares during the period. Institutional investors and hedge funds own 64.25% of the company's stock.

NIKE Company Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.