Nike Inc. (NYSE:NKE) on Thursday reported mixed first-quarter financial results.
Nike reported first-quarter revenue of $11.21 billion, missing analyst estimates of $11.33 billion, according to Benzinga Pro. The company posted adjusted earnings of 48 cents per share for the quarter, beating estimates of 44 cents per share.
"The Sport Offense is driving measurable progress across our performance business, and we introduced Pace to help us accelerate and scale that momentum across Nike," said Elliott Hill, president and CEO of Nike.
Nike said revenues are expected to decline in the high-single digits in fiscal 2027. The company also guided for fiscal 2027 adjusted earnings of $1.15 to $1.35 per share versus estimates of $1.69 per share. Earnings guidance excludes approximately 15 cents of restructuring expenses related to Pace.
Nike shares dipped 8.1% to $32.30 in pre-market trading.
These analysts made changes to their price targets on Nike following earnings announcement.
- BTIG analyst Robert Drbul maintained the stock with a Buy and lowered the price target from $55 to $50.
- B of A Securities analyst Lorraine Hutchinson maintained the stock with an Underperform rating and lowered the price target from $30 to $24.
- Stifel analyst Peter McGoldrick maintained the stock with a Hold and cut the price target from $40 to $36.
- Baird analyst Jonathan Komp maintained the stock with a Neutral and lowered the price target from $44 to $36.
Considering buying NKE stock? Here’s what analysts think:
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