Shares of Nike Inc (NYSE:NKE) tanked in early trading on Wednesday, despite the company reporting upbeat fiscal third-quarter results on Tuesday.
Here are the key analyst insights:
- BTIG analyst Robert Drbul maintained a Buy rating, while reducing the price target from $90 to $75.
- Telsey Advisory Group analyst Cristina Fernández reiterated a Market Perform rating, while cutting the price target from $65 to $55.
- Guggenheim Securities analyst Simeon Siegel reaffirmed a Buy rating, while lowering the price target from $77 to $74.
- Needham analyst Tom Nikic maintained a Hold rating on the stock.
Check out other analyst stock ratings.
BTIG: Nike reported quarterly revenue of $11.3 billion with earnings of 35 cents per share, beating expectations of 26 cents per share, Drbul said in a note. Gross margin contracted by 130 basis points (bps) year-on-year to 40.2%, coming under pressure due to tariff costs in North America, he added.
Nike’s margins could inflect positively in the second quarter of fiscal 2027, “as the company laps tariff pressures,” the analyst stated. “We continue to see significant margin recovery opportunities in …