Needham & Company LLC Issues Pessimistic Forecast for NIKE (NYSE:NKE) Stock Price

NIKE (NYSE:NKE) had its price objective dropped by research analysts at Needham & Company LLC from $84.00 to $80.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the footwear maker’s stock. Needham & Company LLC’s price target points to a potential upside of 11.54% from the company’s current price.

A number of other research analysts have also recently commented on the company. BMO Capital Markets upped their price objective on NIKE from $92.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. DA Davidson raised shares of NIKE to a “strong-buy” rating in a research note on Monday, December 23rd. Piper Sandler raised shares of NIKE from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $72.00 to $90.00 in a research note on Friday, January 10th. Jefferies Financial Group raised shares of NIKE from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $115.00 in a research report on Monday, February 24th. Finally, Robert W. Baird cut their target price on NIKE from $110.00 to $105.00 and set an “outperform” rating on the stock in a research report on Monday, December 23rd. Fourteen equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, NIKE presently has a consensus rating of “Moderate Buy” and an average target price of $89.54.

NIKE Stock Performance

Shares of NYSE:NKE opened at $71.72 on Monday. The business’s 50 day moving average price is $74.68 and its 200-day moving average price is $77.77. NIKE has a 1 year low of $68.62 and a 1 year high of $101.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.22 and a quick ratio of 1.51. The firm has a market capitalization of $106.08 billion, a PE ratio of 22.14, a P/E/G ratio of 2.52 and a beta of 1.02.

NIKE (NYSE:NKE) last released its earnings results on Thursday, December 19th. The footwear maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.15. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.11 billion. NIKE had a net margin of 9.98% and a return on equity of 36.99%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the company posted $1.03 EPS. As a group, equities research analysts expect that NIKE will post 2.05 earnings per share for the current fiscal year.

Insider Transactions at NIKE

In related news, Director John W. Rogers, Jr. purchased 2,500 shares of NIKE stock in a transaction dated Friday, December 27th. The stock was acquired at an average cost of $76.65 per share, with a total value of $191,625.00. Following the completion of the transaction, the director now directly owns 34,403 shares of the company’s stock, valued at $2,636,989.95. This trade represents a 7.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Mark G. Parker sold 169,732 shares of NIKE stock in a transaction on Friday, February 14th. The shares were sold at an average price of $72.83, for a total value of $12,361,581.56. Following the sale, the chairman now directly owns 896,632 shares of the company’s stock, valued at approximately $65,301,708.56. The trade was a 15.92 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On NIKE

A number of large investors have recently bought and sold shares of NKE. Heck Capital Advisors LLC bought a new position in shares of NIKE in the fourth quarter valued at approximately $28,000. Caitlin John LLC grew its holdings in NIKE by 117.0% in the 4th quarter. Caitlin John LLC now owns 371 shares of the footwear maker’s stock valued at $28,000 after buying an additional 200 shares during the last quarter. Teachers Insurance & Annuity Association of America bought a new position in NIKE in the 3rd quarter worth approximately $30,000. Roxbury Financial LLC acquired a new position in shares of NIKE during the fourth quarter worth approximately $30,000. Finally, LFA Lugano Financial Advisors SA boosted its position in shares of NIKE by 110.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 400 shares of the footwear maker’s stock valued at $30,000 after acquiring an additional 210 shares during the period. 64.25% of the stock is currently owned by institutional investors.

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.