Nike Given New $72.00 Price Target at Canaccord Genuity (NKE)
Equities research analysts at Canaccord Genuity raised their price target on shares of Nike (NYSE:NKE) from $69.00 to $72.00 in a research note issued to investors on Thursday, StockRatingsNetwork.com reports. The firm currently has a “hold” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 1.57% from the company’s current price.
Shares of Nike (NYSE:NKE) opened at 70.89 on Thursday. Nike has a one year low of $44.825 and a one year high of $75.25. The stock has a 50-day moving average of $67.84 and a 200-day moving average of $64.0. The company has a market cap of $63.050 billion and a P/E ratio of 23.93.
Nike (NYSE:NKE) last posted its quarterly earnings results 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 $3.04 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Nike in a research note to investors on Friday, October 4th. They now have a $75.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Nike from $77.00 to $82.00 in a research note to investors on Friday, October 4th. They now have a “buy” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Nike from $70.00 to $80.00 in a research note to investors on Tuesday, October 1st. They now have an “overweight” rating on the stock. Twelve analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $76.00.
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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