What's Going On With Nike's Stock?
Portfolio Pulse from Erica Kollmann
Nike, Inc. (NYSE:NKE) shares fell over 20% after reporting worse-than-expected Q4 revenue and weak forward guidance. The company anticipates a mid-single-digit decline in fiscal 2025 revenue and a 10% drop in Q1 revenue. Analysts have cut price targets, but the average target suggests a 35.27% upside. Heavy trading volume is noted, with the stock trending on WallStreetBets.
July 01, 2024 | 4:29 pm
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Nike shares fell over 20% after reporting worse-than-expected Q4 revenue and weak forward guidance. The company anticipates a mid-single-digit decline in fiscal 2025 revenue and a 10% drop in Q1 revenue. Analysts have cut price targets, but the average target suggests a 35.27% upside. Heavy trading volume is noted, with the stock trending on WallStreetBets.
Nike's significant drop in share price is due to worse-than-expected Q4 revenue and weak forward guidance. The company's outlook for fiscal 2025 and Q1 2024 indicates further revenue declines. Analysts have cut price targets, reflecting a negative sentiment. However, the average price target still suggests potential upside, indicating mixed long-term expectations. The heavy trading volume and trending status on WallStreetBets highlight heightened investor interest and volatility.
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