Nike Hits New Low as Analysts Slash Targets With More Downside in View

• Nike stock remains under pressure as the Nike forecast, Nike outlook, Nike future price prediction, and Nike price target vary widely among analysts
• Telsey, Citi, Morgan Stanley, BMO Capital Markets, and JPMorgan have all issued or revised Nike price targets, ranging from $30 to $44 among the cited firms
• TipRanks currently shows a $47.65 average 12-month target, with analyst targets ranging from $30 to $75

Nike stock has been under pressure lately, falling dramatically from its 52-week high of $76. The stock is presently trading at $36, hitting its lowest level in about 12 years. At the same time, this fall has led the analysts to change their perspective regarding Nike’s price target for the future. Here’s what the Nike future price prediction looks like.

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Nike Stock Forecast Faces More Pressure

The latest Nike stock forecast has become concerning, as the stock continues to fall, sitting at a $36 price level. This predicament illustrates how rapidly a company’s fortunes can change. This fall has led to several analysts readjusting their Nike price targets and future expectations. The Telsey Advisory Group has lowered its Nike stock target from $47 to $44 in this wake.

Citi, on the other hand, has readjusted its Nike stock forecast from $45 to $39, expecting more downside and volatility in Nike’s price.

Another leading financial institution, Morgan Stanley, has also issued a $31 price target for Nike. BMO Capital Markets and JPMorgan have shared how they think Nike stock may hit $30 and $40, respectively.

However, not every analysis is projecting a low price threshold for Nike. Data compiled by Investing.com shows the average Nike stock target at $48.38, with multiple targets ranging from $23 to $94.

This scenario is reflecting how divided the markets have become when it comes to the Nike outlook and future price prediction. While some analysts are expecting Nike stock to plunge, the others are issuing a call hinting at a possible recovery of the stock.

Nike Future Price Prediction Depends On Certain Key Factors

Analysts largely attribute the plunge in Nike stock to its sales and demand aspect. Per Reuters, Nike has lately been dealing with stagnant sales and weaker consumer demand. This situation has negatively affected Nike’s stock, causing it to drop significantly. The report further adds growing competition as one of the leading factors impacting the Nike stock.

However, the company’s latest downgrade is also linked to China. Per Baird, concerns around Nike’s China e-commerce reset are among the reasons behind its latest downgrade. Baird cut its rating from Outperform to Neutral and reduced its price target from $70 to $44, changing Nike outlook for the future.

Nike is also leaving the S&P 100 on September 21, adding another change for the company as its stock continues to struggle. Reuters reported that Nike’s removal comes after a major decline in its market value over recent years.

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Future Price Rating For The Stock

Per the latest TipRanks ratings, Nike’s price target for the future is $47.65. The platform’s current consensus is based on 28 Wall Street analysts and gives Nike a Hold rating.

According to TipRanks, Nike’s average 12-month price target is $47.65, based on 28 Wall Street analysts. The highest analyst price target is $75.00, while the lowest forecast is $30.00. The average price target represents a 20.70% increase from the latest price shown by the platform.

Moreover, the platform’s analyst data shows that the highest individual Nike stock price target is $75, while the lowest is $30. This shows how wide the expectations are for Nike’s future price, with analysts holding very different views about the company’s recovery.

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