NIKE, Inc. (NYSE:NKE) shares dropped 2.4% on Friday after Royal Bank of Canada lowered its price target from $40.00 to $39.00, maintaining a “sector perform” rating. The stock traded as low as $37.96 and closed at $38.6110, with trading volume down 17% from the average. The previous close was $39.56.
Several analysts have recently adjusted their ratings and price targets for NIKE. Sanford C. Bernstein kept an “outperform” rating with a $45.00 target, while Citigroup cut its target to $32.00 and rated the stock “neutral.” Bank of America reiterated an “underperform” rating with a $24.00 target, and Robert W. Baird lowered its target to $36.00 with a “neutral” rating. KeyCorp reissued a “sector weight” rating. Overall, NIKE has an average rating of “Reduce” and a price target of $40.91.
Insider activity included EVP Philip McCartney and COO Venkatesh Alagirisamy selling shares on September 9th. McCartney sold 2,559 shares at $37.59, reducing his ownership by 3.17%, while Alagirisamy sold 3,671 shares at the same price, decreasing his ownership by 3.38%. Institutional investors have also adjusted their stakes, with some increasing holdings while others reduced them.
Despite recent gains in performance categories and North America, analysts have raised concerns about weak sales, earnings expectations, and declining demand in China. Truist downgraded NIKE to “sell” with a $29 target, while UBS maintained a “neutral” rating with a $34 target. The company’s FY 2027 guidance is set at $1.150-$1.350 EPS, with analysts expecting $1.22 EPS for the current year.