Susquehanna Increases Nike Price Target to $75.00 (NKE)
Equities researchers at Susquehanna lifted their price objective on shares of Nike (NYSE:NKE) from $70.00 to $75.00 in a research report issued on Friday. The firm currently has a “neutral” rating on the stock. Susquehanna’s target price indicates a potential downside of 3.45% from the company’s current price.
NKE has been the subject of a number of other recent research reports. Analysts at Cowen and Company raised their price target on shares of Nike from $83.00 to $90.00 in a research note on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Nike in a research note on Friday. They now have a $81.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated a “positive” rating on shares of Nike in a research note on Friday. Seven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $83.63.
Nike (NYSE:NKE) traded up 1.07% on Friday, hitting $77.68. 9,071,120 shares of the company’s stock traded hands. Nike has a one year low of $61.90 and a one year high of $80.26. The stock has a 50-day moving average of $75.37 and a 200-day moving average of $75.24. The company has a market cap of $68.214 billion and a price-to-earnings ratio of 26.24. Nike also was the target of some unusual options trading on Thursday. Stock investors purchased 39,193 put options on the stock. This is an increase of approximately 818% compared to the average volume of 4,268 put options.
Nike (NYSE:NKE) last released its earnings data on Thursday, June 26th. The company reported $0.78 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.03. The company had revenue of $7.43 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same quarter last year, the company posted $0.76 earnings per share. Nike’s revenue was up 10.9% compared to the same quarter last year. On average, analysts predict that Nike will post $3.37 earnings per share for the current fiscal year.
NIKE, Inc (NYSE:NKE) is engaged in the design, development and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.