Telsey Advisory Group slashes price target on NIKE Inc. [NKE] – find out why.

NIKE Inc. [NYSE: NKE] gained 1.49% or 1.74 points to close at $118.75 with a heavy trading volume of 8119720 shares. The company report on December 20, 2022 that NIKE, Inc. Reports Fiscal 2023 Second Quarter Results.

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NIKE, Inc. (NYSE:NKE) today reported fiscal 2023 financial results for its second quarter ended November 30, 2022.

Second quarter reported revenues were $13.3 billion, up 17 percent compared to the prior year and up 27 percent on a currency-neutral basis*.

It opened the trading session at $118.55, the shares rose to $119.49 and dropped to $117.44, the range by which the price of stock traded the whole day. The daily chart for NKE points out that the company has recorded 13.83% gains over the past six months. However, it is still -44.43% lower than its most recent low trading price.

If we look at the average trading volume of 8.77M shares, NKE reached to a volume of 8119720 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $125.03 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.

Telsey Advisory Group have made an estimate for NIKE Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on December 14, 2022. While these analysts kept the previous recommendation, Raymond James raised their target price to Outperform. The new note on the price target was released on October 13, 2022, representing the official price target for NIKE Inc. stock. On September 30, 2022, analysts decreased their price target for NKE shares from 156 to 141.

The Average True Range (ATR) for NIKE Inc. is set at 3.28, with the Price to Sales ratio for NKE stock in the period of the last 12 months amounting to 3.79. The Price to Book ratio for the last quarter was 11.76, with the Price to Cash per share for the same quarter was set at 7.57. Price to Free Cash Flow for NKE in the course of the last twelve months was 71.86 with Quick ratio for the last quarter at 1.80.

Trading performance analysis for NKE stock

NIKE Inc. [NKE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.15. With this latest performance, NKE shares gained by 6.88% in over the last four-week period, additionally plugging by 13.83% over the last 6 months – not to mention a drop of -28.75% 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 64.23, with the RSI for the last a single of trading hit 66.37, and the three-weeks RSI is set at 62.48 for NIKE Inc. [NKE]. The present Moving Average for the last 50 days of trading for this stock 104.49, while it was recorded at 117.13 for the last single week of trading, and 110.12 for the last 200 days.

NIKE Inc. [NKE]: A deeper dive into fundamental analysis

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.

NIKE Inc. [NKE]: An earnings per share (EPS) analysis

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 6.77%.

An analysis of insider ownership at NIKE Inc. [NKE]

There are presently around $118,872 million, or 82.90% of NKE stock, in the hands of institutional investors. The top three institutional holders of NKE stocks are: VANGUARD GROUP INC with ownership of 108,615,256, which is approximately 0.915% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 89,333,243 shares of the stock with an approximate value of $10.61 billion in NKE stocks shares; and STATE STREET CORP, currently with $6.56 billion in NKE stock with ownership of nearly 1.251% of the company’s market capitalization.

Positions in NIKE Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 1,033 institutional holders increased their position in NIKE Inc. [NYSE:NKE] by around 54,410,490 shares. Additionally, 1,022 investors decreased positions by around 61,053,897 shares, while 292 investors held positions by with 885,566,222 shares. The mentioned changes placed institutional holdings at 1,001,030,609 shares, according to the latest SEC report filing. NKE stock had 96 new institutional investments in for a total of 4,523,650 shares, while 204 institutional investors sold positions of 10,319,159 shares during the same period.


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