Key Stats for Nike Stock
- Price change for Nike stock in last 6 months: -23%
- $NKE Stock Price as of Oct. 2: $34
- 52-Week High: $72
- $NKE Stock Price Target: $42
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What Happened?
Nike (NKE) shares fell about 5% last week and trades at a 13-year low in October 2026.
The drop followed Nike’s Q1 report.
Revenue was $11.2 billion, down 4%. Earnings per share were $0.48, down 2%. Greater China sales fell 26%.
Nike also announced another round of job cuts. It expects sales and profit to fall more than analysts had hoped.
For the full fiscal year, management guided to a high single-digit revenue decline. Adjusted EPS should land between $1.15 and $1.35.
Sportswear, China and the Jordan brand are still the problem areas. Together, they make up more than half of total sales.
Sportswear fell by low double digits, and Jordan fell by mid-teens. CEO Elliott Hill said Nike had been “oversupplying” its retro sneakers, so it will cut back launches.
There was some good news. Nike’s performance business grew in the high single digits. Running, football, tennis, and golf all grew double digits.
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What the Market Is Telling Us About Nike Stock
Investors are losing patience. Hill returned in October 2024 to turn Nike around. Two years later, the company’s market value and earnings have more than halved.
The new cost-cutting plan, called Pace, targets about $2.5 billion in savings. But most of it won’t show up until fiscal 2029 and 2030. That is a long wait for anyone holding Nike stock.
- Analysts were blunt. RBC’s Piral Dadhania said things will get worse before they get better.
- GlobalData’s Neil Saunders said job cuts may help margins. But he said they don’t solve the brand problems behind the decline.
- Guggenheim’s Simeon Siegel said management likely wanted to clear out the bad news before Investor Day.
That event is set for November 16 and 17. Analysts expect a clearer plan for growth and profit.
Nike did say its dividend remains a priority. The company ended the quarter with $8.4 billion in cash and short-term investments.
For now, Nike stock is trading on proof, not promises.
The next big test for Nike stock is Investor Day. Until then, running strength is the bright spot, and a weak lifestyle business is the main drag on Nike stock.
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So what is Nike stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
