What 4 Nike Analyst Think Of The Q4 Print After Earnings Miss
Portfolio Pulse from Priya Nigam
Nike Inc (NYSE:NKE) shares declined after the company reported a rare earnings miss for its fiscal fourth quarter. Analysts from Wedbush, RBC Capital Markets, Telsey Advisory Group, and KeyBanc Capital Markets provided their insights. While some analysts raised their price targets, others reduced them. The company's recovery in China and inventory cleanup progress were highlighted positively, but the guidance for the next quarter was seen as below expectations.
June 30, 2023 | 3:09 pm
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Nike's Q4 earnings miss led to a decline in its share price. Analysts provided mixed reactions, with some raising and others reducing their price targets. The company's recovery in China and inventory cleanup progress were seen as positive, but the guidance for the next quarter was viewed as below expectations.
Nike's Q4 earnings miss is a negative event that led to a decline in its share price. The mixed reactions from analysts, with some raising and others reducing their price targets, indicate uncertainty about the company's short-term prospects. The positive comments about the company's recovery in China and inventory cleanup progress suggest potential upside, but the below-expectations guidance for the next quarter is a negative factor that could weigh on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100