For fiscal 2023, Nike projects

For fiscal 2023, Nike projects to low-to-mid single digit revenue growth. It predicts gross margin to decline 200 basis points to 250 basis points, with negative foreign exchange headwinds of about $4 billion during the year. Nike updates rules for shoppers, cracking down on shoe reselling, WSJ reports In an effort to crack down on sneaker-buying bots, Nike said it would cancel orders placed with automated… Data are provided ‘as dotbig website is’ for informational purposes only and are not intended for trading purposes. Data may be intentionally delayed pursuant to supplier requirements. To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research. Provide specific products and services to you, such as portfolio management or data aggregation.

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  • The firm remains bullish on the company’s long-term outlook and kept a “buy” rating on the shares, but it lowered its target on NKE stock to $115 from $130.
  • The footwear maker blamed “ongoing supply chain volatility” for the huge increase.
  • Open to Public Investing is a wholly-owned subsidiary of Public Holdings, Inc. (“Public Holdings”).

Nike Direct, its direct-to-consumer segment, accounted for 42% of total sales in fiscal 2022. Nike’s China sales fell 16% over the year to $1.65 billion for the period, but were still in line with consensus estimates. While North American revenue rose 15% to $5.5 billion, spurred by a 17% increase in shoe sales. The largest growth came from its European, Middle East and Africa segment, where sales increased dotbig forex by 23%. Nike holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. If Nike takes out the full calculated possible swing range there will be an estimated 7.30% move between the lowest and the highest trading price during the day. This stock has average movements during the day and with good trading volume, the risk is considered to be medium.

Adidas Sounds The Alarm What Its Lower Outlook Means For Athletic Brands

Real-time quotes, advanced visualizations, backtesting, and much more. Recent data showed that China’s industrial profits dropped 2.1% from the prior-year period between January-August, but saw a marked improvement last month. The recent performance of China’s economy has been very encouraging, and it seems like the country is on its way back. China’s top national statistics bureau also remarked that profits for foreign firms are rebounding.

NKE stock

176 people have searched for NKE on MarketBeat in the last 30 days. This is an increase of 110% compared to the previous 30 days. MarketBeat has tracked 23 news articles for NIKE this week, compared to 14 articles on an average week. MarketRank is calculated as an average of available category scores, with Forex news extra weight given to analysis and valuation. Please log in to your account or sign up in order to add this asset to your watchlist. Upgrade to MarketBeat Daily Premium to add more stocks to your watchlist. Shortages have turned into surpluses-and that’s bad news for goods producers and sellers everywhere.

Nike Inc Ci B Nke: Price And Financial Metrics

Intraday data delayed at least 15 minutes or per exchange requirements. Turning to Wall Street, maintains a Moderate Buy consensus rating. Out of 28 total analyst ratings, 17 Buys, 11 Holds, and zero Sells were assigned over the past three months. The average NKE price target is $109.92, implying a 24.1% upside potential.

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Nike Whale Trades For October 13

The consensus among Wall Street equities research analysts is that investors should “buy” NKE shares. NIKE, Inc. is a maker of athletic footwear, dotbig broker apparel, accessories and equipment. It also sells athletic lifestyle sneakers, apparel and accessories under the Converse line.

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By using the site you agree and are held liable for your own investment decisions and agree to the Terms of Use and Privacy Policy.Please read the full disclaimer here. For those investors who can look past the current inventory problem and believe in Nike’s long-term prospects, now is a great time to buy shares at 50% off its all-time high.

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Still, the company’s inventory spiked 44% to $9.7 billion for the quarter. On a positive note, however, Nike also reported slightly stronger-than-expected fiscal first-quarter revenue and earnings per share yesterday. The company’s first fiscal quarter of 2023 ended on Aug. 31.

Trading Adidas Stock After Company Cuts Ties With Ye

Stocks with similar financial metrics, market capitalization, and price volatility to NIKE INC are CVS, HON, CMCSA, HDB, and MS. What analysts recommend for , on a scale from 1 to 5. Get Started Learn how you can make more money with IBD’s investing tools, top-performing stock lists, and educational content. Shortages have turned to gluts, off-price retailers could benefit, Barron’s says Shortages have turned into surpluses-and that’s bad news for goods producers and sellers everywhere.

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