Nike Inc. (NYSE:NKE) reported better-than-expected fourth-quarter results for fiscal 2026 after the closing bell on Tuesday.
Nike posted fourth-quarter revenue of $10.97 billion, beating analyst estimates of $10.86 billion, according to Benzinga Pro. The company reported adjusted earnings of 20 cents per share for the period, beating analyst estimates of 13 cents per share.
"In fiscal 2026, we took decisive actions to strengthen the foundation of NIKE, Inc. and reposition our business for long-term growth," said Elliott Hill, president and CEO of Nike. "While we continue to face top-line headwinds, we’re encouraged by progress in performance product and are focused on consistent execution, improved profitability and scaling our wins to realize our full potential."
Nike shares fell 2.2% to $40.16 in pre-market trading.
These analysts made changes to their price targets on Nike following earnings announcement.
- Wells Fargo analyst Ike Boruchow maintained the stock with an Equal-Weight rating and lowered the price target from $45 to $40.
- B of A Securities analyst Lorraine Hutchinson maintained the stock with a Neutral and lowered the price target from $55 to $47.
- Barclays analyst Adrienne Yih maintained the stock with an Overweight rating and cut the price target from $67 to $52.
Considering buying NKE stock? Here’s what analysts think:
Photo via Shutterstock