Wedbush Increases Nike Price Target to $80.00 (NKE)
Investment analysts at Wedbush raised their price target on shares of Nike (NYSE:NKE) from $78.00 to $80.00 in a note issued to investors on Friday. The firm currently has a “neutral” rating on the stock. Wedbush’s target price points to a potential upside of 2.99% from the company’s current price.
Shares of 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 P/E 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 represents an increase of 818% compared to the typical 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 (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts expect that Nike will post $3.37 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna raised their price target on shares of Nike from $70.00 to $75.00 in a research note on Friday. They now have a “neutral” rating on the stock. Separately, 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $83.63.
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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