Nike Given New $83.00 Price Target at Cowen and Company (NKE)
Research analysts at Cowen and Company increased their price target on shares of Nike (NYSE:NKE) from $75.00 to $83.00 in a report released on Monday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s price target points to a potential upside of 14.26% from the company’s current price.
Shares of Nike (NYSE:NKE) traded down 1.36% on Monday, hitting $72.64. The stock had a trading volume of 7,398,684 shares. Nike has a 52 week low of $44.825 and a 52 week high of $75.25. The stock’s 50-day moving average is $66.30 and its 200-day moving average is $62.97. The company has a market cap of $64.606 billion and a price-to-earnings ratio of 24.92. Nike also was the recipient of unusually large options trading activity on Friday. Stock investors purchased 38,747 call options on the stock. This is an increase of approximately 371% compared to the typical volume of 8,227 call options.
Nike (NYSE:NKE) last released its earnings data on Thursday, September 26th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.08. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $6.97 billion. During the same quarter in the previous year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts expect that Nike will post $3.05 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Nike (NYSE:NKE) from $61.00 to $69.00 in a research note to investors on Monday. They now have a “hold” rating on the stock. Separately, analysts at ISI Group raised their price target on shares of Nike (NYSE:NKE) from $80.00 to $90.00 in a research note to investors on Friday. They now have a “strong-buy” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of Nike (NYSE:NKE) from $75.00 to $85.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Thirteen analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Nike has a consensus rating of “Buy” and a consensus target price of $74.50.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
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