Nike Inc. (NYSE:NKE) is one of the 12 Best Dow Stocks to Invest In Right Now.
On July 3, Joseph Civello, an analyst at Truist Financial, reiterated a Buy rating on Nike Inc. (NYSE:NKE) and set a price target of $47
The analyst update follows the company’s quarterly earnings report announced on June 30. The company reported revenue of $11 billion, which beat the Wall Street consensus of $10.85 billion. The earnings per share came in at $0.20, which exceeded analysts’ estimates of $0.12.
Despite comfortably beating Wall Street estimates, investors should note that the company’s Q4 revenues were down 1% on a reported basis and 4% on a currency-neutral basis. Moreover, the company recognized a one-time $986 million benefit tied to tariff claims, which lifted reported profit and gross margin. Going forward, for the first quarter of fiscal 2027, NKE expects revenue to decline in the low- to mid-single digits, with gross profit margin slightly positive.