Nike, IncNYSE: NKE
Consumer Discretionary · Apparel, Accessories & Luxury Goods
$44.49
+0.28%
Vol: 9.2M
Research Digest
Friday, May 1, 2026
Nike turnaround disappoints with 1,400 job cuts; 29% YTD decline as competitors gain share.
Nike announced significant layoffs of 1,400 roles in global operations team, primarily in technology, amid slower-than-expected turnaround and disappointing Greater China sales. Stock down 29% YTD and lost more than 50% of value over last three years as nimble competitors like On, Hoka, and Anta capture shelf space. Stock at $44.35, down from highs near $100 in prior years. Despite headwinds, 26 analysts maintain Buy rating with 12-month PT $63.44 (40.88% upside), reflecting belief in eventual turnaround execution.
Previous Market Intelligence
13 daysApr 30Nike announces 1,400 job cuts as part of Win Now restructuring amid 9.7% revenue decline and 43.5% earnings drop.Negative▶
Nike is undergoing significant restructuring with approximately 1,400 job cuts primarily in the technology department as part of its Win Now strategy. Fiscal 2025 revenue declined 9.84% to $46.31 billion with earnings falling 43.53% to $3.22 billion. The company faces persistent challenges including flat revenue, a 35% EPS drop, inventory issues, and intensified competition from rivals like Adidas and Lululemon. Recent marketing missteps raise concerns over brand perception. Despite challenges, analysts maintain a Buy rating with an average 12-month price target of $63.44, implying 40.88% upside from current levels.
Apr 16Nike stock surges on CEO and Tim Cook insider buying despite 27.8% YTD declineMixed▶
Nike shares jumped 3.8% after CEO Elliott Hill purchased ~$1M stock and Apple board member Tim Cook invested $3M, signaling confidence in recovery after months of weakness. Stock down 27.8% YTD, trading $45.67 (42.4% below 52-week high of $79.24 from July 2025). Q3 FY2026 showed flat YoY revenue; China sales down 7%, with guidance for Q4 revenue decline 2-4% and 20% China decline. JPMorgan states Nike "will be great again" but faces near-term headwinds. HSBC calls turnaround a "show me" story.
Apr 15Nike downgraded to Hold by HSBC with $48 price target; company expects China sales to drop 20% as stock hits 52-week lows.Negative▶
Nike faces significant headwinds with HSBC downgrading to Hold from Buy, cutting price target to $48 from $90 on April 14. Stock has declined 68% over five years. Nike expects China sales to drop 20% in current quarter. Piper Sandler also downgraded from Overweight to Neutral, cutting target from $60 to $50. Innovation Chief Tony Bignell departed after under one year. Dividend payout ratio exceeds 100%.
Apr 14Nike faces continued headwinds with analyst downgrades; stock near 52-week low as executives depart and China challenges persist.Negative▶
Nike hit 52-week low around $42.69 amid multiple analyst downgrades. Piper Sandler downgraded from overweight to neutral with $50 target on April 10. Q3 FY2026 revenues flat with Nike Direct down 4%, Q4 revenue decline of 2-4% expected. Innovation Chief Tony Bignell leaving. China revenue projected to fall 20%. Stock at ~$43.07 with Buy consensus from 26 analysts.
Apr 13Nike plunges on weak Q3 guidance; expects 2-4% sales decline this quarter with Greater China off ~20%; stock down 22% over 12 months.Negative▶
Nike reported fiscal Q3 results with flat revenues at $11.3B and net income down 35% to EPS of $0.35. Company issued weak forward guidance: expecting 2-4% sales decline and Greater China segment sales expected down ~20%. Stock crashed 15.5% on April 1 to $44.62. Innovation chief Tony Bignell departing. Director John Rogers purchased 4,000 shares April 10 at $43.34.
Apr 10Nike hits 52-week low at $42.36 with stock down 76% from 2021 peak as CEO Elliott Hill navigates turnaround.Negative▶
Nike shares fell to a new 52-week low of $42.36, down 76% from 2021 highs. Q3 2026 EPS of $0.35 beat estimates but represents significant decline from prior year. Revenue projected to decline 2-4% in current quarter. Greater China sales declined nearly 20% due to local competition. CEO Elliott Hill's Win Now restructuring faces uneven recovery pace. Nike just delivered its 24th consecutive dividend increase.
Apr 9Nike plunges 15.5% on cautious guidance despite beating Q3 earnings, faces China headwindsNegative▶
Nike shares collapsed 15.5% to $44.62 on April 1 after reporting Q3 FY2026 results that beat estimates but issued weak forward guidance. Q3 revenue of $11.3 billion was flat YoY (-3% currency-neutral), net income down 35%, EPS down 35% to $0.35. Direct revenues down 4% on reported basis, down 7% currency-neutral. FY26 Q4 guidance: sales -2% to -4%, gross margins down 25-75 bps. Management cited ongoing Middle East disruption and 10% China sales decline. JPMorgan and BofA downgraded post-earnings. Stock down 76% from 2021 high of $167.31, now near 2014 lows. Dividend payout ratio unsustainable at 100%+.
Apr 8Nike Hits 11-Year Low Despite Q3 Earnings Beat; Goldman Sachs DowngradesNegative▶
Nike fell 15.51% post-earnings despite beating EPS estimates. Goldman Sachs downgraded to Neutral, cutting target to $52 from $76. Greater China revenue down 20% with recovery timeline questioned.
Apr 7Nike stock crashes 9% after disappointing Q3 FY26 earnings and weak guidanceNegative▶
Nike reported disappointing Q3 fiscal 2026 results with flat revenues and declining gross margin. CFO warned Q4 sales expected to fall 2-4% with Greater China declining 20%. Stock near 9-year lows at $44 amid analyst downgrades. Goldman Sachs slashed price forecast citing limited valuation support. Earnings down 35% YoY while net income declined 64% over 5 years.
Apr 6Nike falls 15% post-earnings on weak Q3 guidance and China market declineNegative▶
Nike reported Q3 2026 net sales flat YoY at $11.3B, beating $11.2B estimate, but EPS of 35 cents missed 28-cent estimate (down from 54 cents prior year). Net income fell 35% to $520M from $794M. Footwear revenues +6% to $3.3B; apparel -2% to $1.5B. CEO Elliott Hill turnaround efforts underway but company warned Q4 2026 sales expected down 2-4% (vs Wall Street +1.9% estimate). China market expected to decline 20% in Q4 (key market). Stock fell 15% post-earnings, down 16.24% week-over-week, down 25.66% month, down 31.28% year. Current price $44.19 (-0.99% past 24h). Williams Trading lowered target to $57 from $80 maintaining Buy. Analyst caution on dividend sustainability amid declining revenues and competition. Mixed analyst sentiment.
Apr 3Nike stock plunges 15.5% after Q3 earnings miss on guidance and 20% projected China sales decline.Negative▶
Nike reported fiscal Q3 2026 earnings that beat revenue estimates at $11.3 billion, but issued weak forward guidance projecting 2-4% sales decline in fiscal Q4 with Greater China down 20%. Net income fell 35% year-over-year amid tariff pressures and geopolitical risks. CEO Elliott Hill acknowledged the turnaround is taking longer than expected.
Apr 2Nike shares plunge to 11-year low on weak China guidanceNegative▶
Nike shares plunge to 11-year low following weak China guidance and 20% expected sales decline.
Apr 1Nike reported Q3 FY2026 earnings on March 31 with weak forward guidance projecting 20% sales decline in China.Negative▶
Nike beat Q3 FY2026 estimates with EPS of $0.35, but issued weak guidance predicting Greater China will decline 20% in Q4. Despite wholesale revenue climbing 5%, direct sales slid 4%. Shares tumbled nearly 9% post-earnings. Stock has declined 18% year-to-date and over 70% from its peak.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| NKENIKE | $44.49 | +0.28% | +0.8% | 24.0x | 1.32 | $65.7B |
| TPRTAPESTRY | $142.79 | -1.55% | +0.9% | 20.1x | 1.61 | $29.7B |
| RLRALPH | $362.14 | +0.98% | +0.0% | 19.9x | 1.48 | $21.7B |
| LULULULULEMON | $133.82 | -2.82% | -11.8% | 10.4x | 1.07 | $16.2B |
| AMZNAMAZON.COM | $268.12 | +1.15% | +24.6% | 27.1x | 1.38 | $2.85T |
| TSLATESLA | $390.70 | +2.38% | +8.2% | 150.5x | 1.92 | $1.43T |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.