On July 1, Nike fell 3.28% in after-hours trading to $39.68 per share, with turnover of $198 million. The decline came immediately after the company released fiscal Q4 results.

Nike reported adjusted EPS of $0.20, beating the consensus estimate of $0.13 by 53.85%, representing a 42.86% increase from $0.14 in the year-ago period. Revenue came in at $10.972 billion, slightly above the $10.863 billion estimate but still down 1.1% year-over-year. Nike Brand revenue of $10.7 billion declined 0.4% YoY but topped the $10.6 billion consensus, while Converse revenue of $244 million missed the $260.4 million estimate.

Despite the significant earnings beat, the stock declined as revenue remains in a downward trajectory. Multiple investment banks recently cut price targets ahead of the report — JPMorgan to $47, Goldman Sachs to $46, Evercore ISI to $46, and Stifel to $50 — reflecting persistent concerns about the pace of Nike's transformation and recovery under ongoing macro headwinds and competitive pressures.

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