Nike

NKE · NYSE

$37.88+$0.67 (+1.80%)TodayMarket closed · Oct 20, 7:59 PM ET

Prev close $37.21

NKE analyst rating

HoldConsensus of 29 analysts over the last 12 months. 28% rate it a buy.

Strong buy0
Buy8
Hold16
Underperform5
Sell0

12-month price target · 41 analysts

Average $47.86 (+26.3% upside)

Low: $23.23
Now: $37.88
High: $102.21

Upgrades and downgrades

The latest rating actions, newest first

NKE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Barclays	Oct 5, 2026	Maintains	Overweight	$48.00 → $37.00	55%
Freedom Broker	Oct 2, 2026	Upgrade	Sell → Buy	$54.00 → $51.00	44%
UBS	Oct 2, 2026	Maintains	Neutral	$42.00 → $34.00	50%
Telsey Advisory Group	Oct 2, 2026	Maintains	Market Perform	$44.00 → $35.00	50%
Citigroup	Oct 2, 2026	Maintains	Neutral	$39.00 → $32.00	53%
Morgan Stanley	Oct 2, 2026	Maintains	Underweight	$31.00 → $27.00	56%
BNP Paribas	Oct 2, 2026	Maintains	Underperform	$23.00 → $19.00	48%
Goldman Sachs	Oct 2, 2026	Maintains	Neutral	$38.00 → $30.00	53%
JP Morgan	Oct 2, 2026	Maintains	Underweight	$40.00 → $33.00	57%
Truist Securities	Oct 2, 2026	Maintains	Hold	$42.00 → $29.00	21%

The case for and against

Updated Oct 14, 2026

Bull case

Nike is supported by a structurally strong global brand, diversified channels, and scale advantages, with footwear generating about two-thirds of sales and distribution spanning company-owned stores, franchised stores, and e-commerce in more than 40 countries. The company also appears to be improving operational quality in key regions, as North America delivered its first quarter of gross margin expansion since 1Q25 and Greater China posted 30 bps of gross margin growth, while cost actions and the Pace program are expected to drive roughly $1bn of cumulative net savings by FY30E. Although recovery visibility remains low and Sportswear and Jordan are under pressure, the analyst sees upside from running strength, disciplined inventory cleanup, and eventual EBIT margin progression toward 10% as Nike right-sizes the business.

Bear case

Nike is facing a deteriorating fundamental setup as revenue guidance resets to high single-digit declines and EPS guidance of $1.15-$1.35 sits well below prior expectations, implying that FY27E EBIT will fall faster than sales. Although gross margin improved in North America, EMEA, and Greater China, that benefit was offset by SG&A deleverage of about 127 bps, including roughly 115 bps of Demand Creation deleverage, showing the business still lacks operating leverage. Weakness in Greater China and Converse, plus multi-quarter digital cleanup, franchise resets, and continued pressure in EMEA, make the recovery less visible and suggest management must absorb more restructuring before growth can stabilize.

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