Quick Overview Nike shares hover around $36, approaching the 52-week low of $35.22. Piper Sandler reduced its price target to $38 from $45 while maintaining a Neutral stance ahead of the Octo
Shares of Nike are currently trading near the $36 mark, dangerously close to the annual low of $35.22 recorded earlier this year. The athletic footwear and apparel giant has seen its stock plummet approximately 25% following its previous quarterly report and now trades roughly 53% beneath its high from one year ago.
The athletic wear powerhouse is scheduled to unveil its first-quarter fiscal 2027 financial results on October 1. Market observers are paying careful attention, with analyst commentary intensifying in recent days.
Piper Sandler reduced its price objective on Nike shares to $38 from a previous $45 this Monday. The investment firm maintained its Neutral position, noting the stock has declined 42% throughout the current year.
Deutsche Bank similarly adjusted its forecast downward, shifting from $45 to $37 while preserving a Hold recommendation. This revised target suggests merely 5% potential appreciation from present trading levels.
Both financial institutions highlighted identical concerns. Nike has already provided guidance indicating first-quarter revenue will decline by a low-to-mid-single-digit percentage, with the subsequent quarter potentially showing even softer performance.
Evercore ISI analyst Michael Binetti introduced an additional worry. According to his research, certain retail partners seem to have decreased or outright canceled orders for the Spring 2027 season.
This development could compel Nike to revise its second-half fiscal 2027 projections downward ahead of its scheduled November investor day presentation. Current Wall Street forecasts anticipate sales bottoming approximately 4% below prior-year levels during the first half, followed by stabilization in subsequent quarters.
Stifel analyst Peter McGoldrick highlighted disappointing reception for recent product launches. He additionally observed that Nike’s Hoops Classics collection, which represents roughly 18% of total revenue, continues to contract.
Nike’s brand positioning has encountered additional setbacks. High-profile soccer athlete Kylian Mbappe recently terminated his Nike partnership to sign with competitor On Holding.
Dick’s Sporting Goods has also indicated that aggressive Nike promotional activity has negatively impacted certain segments of its business. The sportswear company is attempting to liquidate legacy inventory while simultaneously directing consumers toward newer, full-margin merchandise.
Analyst opinions on the stock remain fragmented. Both Jefferies and BTIG maintain Buy recommendations, with Jefferies projecting first-quarter revenue of $11.5 billion.
Bank of America took a contrasting position, downgrading Nike to Underperform with a $30 price objective. The bank cited sluggish sales momentum and intensifying competition from Adidas.
Goldman Sachs lowered its target to $38 while retaining a Neutral outlook. StoneX initiated coverage with a Hold rating.
Piper Sandler’s proprietary forecasting model projects first-quarter revenue declining 3% with earnings reaching $0.37 per share, falling short of the consensus estimate of $0.43. The firm also reduced its gross margin projection by 40 basis points.
The Chinese market continues presenting challenges. Pou Sheng, a key Nike distributor operating in China, disclosed additional sales deterioration during July and August.
Nike’s most recently disclosed quarter delivered revenue of $10.97 billion, representing approximately a 1% year-over-year decline. Earnings reached $0.20 per share, surpassing analyst expectations of $0.11.
The company has also recently appointed a new Chief Financial Officer, providing leadership with additional justification to exercise caution regarding forward guidance until the November investor conference. Nike is set to report first-quarter fiscal 2027 earnings on October 1, 2026.
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