NIKE Inc. [NKE] stock Initiated by Raymond James analyst, price target now $99

NIKE Inc. [NYSE: NKE] plunged by -$0.49 during the normal trading session on Monday and reaching a high of $88.84 during the day while it closed the day at $88.01. 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*.

NIKE Inc. stock has also loss -2.18% of its value over the past 7 days. However, NKE stock has declined by -16.34% in the 3 months of the year. Over the past six months meanwhile, it has lost -31.21% and lost -47.20% year-on date.

The market cap for NKE stock reached $135.10 billion, with 1.57 billion shares outstanding and 1.24 billion shares in the current float. Compared to the average trading volume of 8.14M shares, NKE reached a trading volume of 8843280 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $110.52 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 2.20. 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.

Raymond James have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 13, 2022. The new note on the price target was released on October 03, 2022, representing the official price target for NIKE Inc. stock. Previously, the target price had yet another drop from $156 to $141, while UBS kept a Buy rating on NKE stock. On September 30, 2022, analysts decreased their price target for NKE shares from 125 to 110.

The Average True Range (ATR) for NIKE Inc. is set at 3.37, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 2.87. The Price to Book ratio for the last quarter was 8.71, with the Price to Cash per share for the same quarter was set at 7.74. Price to Free Cash Flow for NKE in the course of the last twelve months was 78.82 with Quick ratio for the last quarter at 1.80.

NKE stock trade performance evaluation

NIKE Inc. [NKE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.18. With this latest performance, NKE shares dropped by -9.29% in over the last four-week period, additionally sinking by -31.21% over the last 6 months – not to mention a drop of -46.16% 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 40.17, with the RSI for the last a single of trading hit 42.10, and the three-weeks RSI is set at 39.76 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 100.52, while it was recorded at 88.32 for the last single week of trading, and 118.47 for the last 200 days.

NIKE Inc. [NKE]: An insightful look at the core fundamentals

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

Earnings per share (EPS) analysis for NIKE Inc. [NKE] stock

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 Ownership positions

There are presently around $89,666 million, or 83.10% 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 $7.9 billion in NKE stocks shares; and STATE STREET CORP, currently with $4.8 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 1,072 institutional holders increased their position in NIKE Inc. [NYSE:NKE] by around 51,824,949 shares. Additionally, 1,068 investors decreased positions by around 55,274,243 shares, while 304 investors held positions by with 911,722,281 shares. The mentioned changes placed institutional holdings at 1,018,821,473 shares, according to the latest SEC report filing. NKE stock had 131 new institutional investments in for a total of 10,322,817 shares, while 200 institutional investors sold positions of 6,525,136 shares during the same period.


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