#6 - Nike (NYSE:NKE)
One of the common uses of NFTs is in the emerging metaverse. And that brings us to the next NFT-related stock on our list, Nike (NYSE:NKE). Nike’s emergence in the NFT space came when it patented CryptoKicks, which is still under development. The company’s collection of sneakers is already considered collectibles. So it’s not a huge mental leap to see that there will be value to individuals owning NFT versions of sneakers that they can wear in the metaverse.
Like most growth stocks, NKE stock has been under selling pressure for much of the last six months. However, this is a time when investors need to seek out quality stocks and Nike certainly fits that bill. Analysts give the stock a 30% upside from its current level. And, although its dividend is comparatively small, the company has increased its payout for the last 21 years with an average three-year growth of 11%.
About NIKE
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.
Read More - Current Price
- $77.40
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 17 Buy Ratings, 13 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $95.86 (23.8% Upside)
