NIKE Inc. [NKE] Revenue clocked in at $46.71 billion, down -50.13% YTD: What’s Next?

NIKE Inc. [NYSE: NKE] price plunged by -12.81 percent to reach at -$12.21. The company report on September 29, 2022 that NIKE, Inc. Reports Fiscal 2023 First Quarter Results.


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NIKE, Inc. (NYSE:NKE) today reported fiscal 2023 financial results for its first quarter ended August 31, 2022.

First quarter reported revenues were $12.7 billion, up 4 percent compared to the prior year and up 10 percent on a currency-neutral basis*.

A sum of 48012964 shares traded at recent session while its average daily volume was at 6.73M shares. NIKE Inc. shares reached a high of $86.20 and dropped to a low of $82.50 until finishing in the latest session at $83.12.

The one-year NKE stock forecast points to a potential upside of 28.37. The average equity rating for NKE stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on NIKE Inc. [NKE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NKE shares is $116.04 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NKE stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

UBS have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 30, 2022. While these analysts kept the previous recommendation, Telsey Advisory Group dropped their target price from $125 to $110. The new note on the price target was released on September 30, 2022, representing the official price target for NIKE Inc. stock. Previously, the target price had yet another drop from $130 to $110, while Stifel kept a Buy rating on NKE stock. On September 30, 2022, analysts decreased their price target for NKE shares from 125 to 115.

The Average True Range (ATR) for NIKE Inc. is set at 3.89, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 3.20. The Price to Book ratio for the last quarter was 8.55, with the Price to Cash per share for the same quarter was set at 7.22. Price to Free Cash Flow for NKE in the course of the last twelve months was 41.91 with Quick ratio for the last quarter at 1.80.

NKE Stock Performance Analysis:

NIKE Inc. [NKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.33. With this latest performance, NKE shares dropped by -21.92% in over the last four-week period, additionally sinking by -38.23% over the last 6 months – not to mention a drop of -42.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NKE stock in for the last two-week period is set at 22.68, with the RSI for the last a single of trading hit 17.47, and the three-weeks RSI is set at 27.37 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 108.12, while it was recorded at 93.90 for the last single week of trading, and 124.57 for the last 200 days.

Insight into NIKE Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and NIKE Inc. [NKE] shares currently have an operating margin of +14.49 and a Gross Margin at +46.13. NIKE Inc.’s Net Margin is presently recorded at +12.92.

Return on Equity for this stock inclined to 43.11, with Return on Assets sitting at 15.49.

NIKE Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.60.

NKE Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NKE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NIKE Inc. go to 5.00%.

NIKE Inc. [NKE] Insider Position Details

There are presently around $84,779 million, or 83.00% of NKE stock, in the hands of institutional investors. The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 107,630,476, which is approximately 0.569% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 89,813,493 shares of the stock with an approximate value of $7.47 billion in NKE stocks shares; and STATE STREET CORP, currently with $4.54 billion in NKE stock with ownership of nearly -3.556% of the company’s market capitalization.

Positions in NIKE Inc. stocks held by institutional investors increased at the end of September and at the time of the September reporting period, where 1,103 institutional holders increased their position in NIKE Inc. [NYSE:NKE] by around 50,525,455 shares. Additionally, 1,075 investors decreased positions by around 54,890,951 shares, while 308 investors held positions by with 914,547,666 shares. The mentioned changes placed institutional holdings at 1,019,964,072 shares, according to the latest SEC report filing. NKE stock had 139 new institutional investments in for a total of 9,376,511 shares, while 213 institutional investors sold positions of 3,339,289 shares during the same period.

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