These Analysts Cut Their Forecasts On Nike Following Q3 Results
Portfolio Pulse from Avi Kapoor
Nike Inc (NYSE:NKE) reported higher than expected Q3 earnings and sales, with revenue at $12.429 billion and adjusted EPS at 98 cents, surpassing consensus estimates. Despite this, Nike shares fell 6.1% in pre-market trading. Analysts from Goldman Sachs and UBS cut their price targets on Nike, although both maintained a Buy rating.
March 22, 2024 | 11:57 am
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Nike reported strong Q3 results, beating revenue and EPS estimates, but saw a 6.1% pre-market share price drop. Analysts from Goldman Sachs and UBS lowered their price targets despite maintaining Buy ratings.
The drop in Nike's share price despite surpassing earnings and sales expectations suggests market concerns or profit-taking. Analysts' reduced price targets, despite maintaining positive ratings, could further influence short-term investor sentiment negatively.
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IMPORTANCE 90
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