In recent months, Nike stock has delivered substantial returns for investors.

Key Points

Although Nike's stock price remains well below its 2023 closing level, it has approached breakeven territory in 2025 as more investors embrace the company's business restructuring plan. Some analysts now believe Nike's stock price could continue climbing - potentially returning above $100 per share for the first time since early last year.

Nike has nearly achieved it.

The "achievement" here doesn't refer to collaborating with the Kardashian family or redesigning the brand's iconic slogan - though these initiatives are indeed underway. What we're really discussing is the athletic footwear and apparel company's stock performance: Nike's stock closed above $75 per share in 2024, dropped below $54 per share by April 2025, and has now nearly completed its recovery, closing just below $71 per share on Tuesday.

Nike's current stock price remains more than one-third below its 2023 closing level - a dramatic decline that prompted the company's CEO change, bringing current Chief Executive Elliott Hill into the role. The current price also sits well below the all-time high reached in 2021. However, optimism surrounding the stock continues to build, with some analysts expressing confidence for the first time since March 2024 that Nike's stock could break through the $100 per share threshold.

Why does this matter?

Nike remains one of the world's most recognizable brands, but the company has recently had to work harder to capture consumer wallet share - demonstrating that even the most legendary companies can face stagnation. Now, as this widely-held Dow Jones Industrial Average component gradually returns to breakeven territory in 2025, some investors suggest that Nike's business restructuring represents genuine long-term effectiveness rather than temporary momentum.

Previously, investors sold off the stock following Nike's poor fourth-quarter fiscal 2024 results and dim outlook, prompting the company to bring Hill back to lead. Now, ahead of Nike's scheduled earnings report next week, investors appear to be buying back into the stock.

Wall Street analysts are increasingly bullish on Nike. Their average target price has recently exceeded $80 per share, just 13% above Tuesday's closing price, with more analysts believing Nike's operational conditions have improved.

Baird analysts upgraded Nike to a "top pick" on Monday, citing the company's potential to exceed guidance expectations - Nike indicated during its June conference call that it expected first-quarter fiscal 2025 revenue to decline by "mid-single digits" year-over-year - while positive signals regarding inventory, sales quality, and product innovation are viewed as "key indicators of effective business restructuring." Baird set a target price of $88 per share for Nike.

Bank of America takes a slightly more cautious view, setting a target price of $84 per share. The firm expects Nike's latest results to reflect solid back-to-school season sales performance, while also lowering expected gross margin forecasts due to tariff concerns.

Analyst outlooks for Nike's stock price remain divided. According to data tracked by Visible Alpha, several analysts believe Nike's stock could decline, but "buy" ratings remain predominant. Among the bullish camp, Baird currently offers the highest target price; Morgan Stanley raised its Nike target price on Monday, but only to $70 per share.

For Baird, the firm believes Nike's long-term prospects could drive its stock price back above $100 per share. Analysts wrote in their report: "Over the next 18 to 24 months, Nike's stock price could advance toward the $100 to $105 per share range."