Nike, Inc. (NKE) Monthly Stock Report

Publication Date: September 22, 2024

Company Overview

Nike, Inc. (NKE), headquartered in Beaverton, Oregon, is a leading global brand specializing in athletic footwear, apparel, equipment, and accessories. Established in 1964, Nike operates under iconic trademarks including NIKE, Jumpman, and Converse, catering to diverse consumer needs ranging from casual wear to high-performance athletic gear. As a key player in the Consumer Cyclical sector, particularly within the Footwear & Accessories industry, Nike effectively merges the realms of sport and lifestyle. The company distributes its products through a blend of retail outlets and digital platforms, ensuring a widespread reach to consumers internationally.

Market Analysis and Growth Potential

The consumer demand for Nike’s products has resulted in impressive revenue generation, totaling approximately $51.36 billion. This remarkable figure underscores Nike’s strong market presence and reflects the sector’s significant growth potential. Analysts maintain a bullish outlook for the industry, evidenced by a strong buy recommendation, positioning Nike as an attractive investment opportunity amidst shifting consumer spending trends. With a current share price of $86.52, trading below the projected target mean price of $91.83 and a target high of $120.00, investors may have substantial upside potential.

Despite the total of approximately 1.2 billion shares outstanding and a short interest of about 0.0199% of the float (approximately 19.14 million shares shorted), investor sentiment remains strong, indicative of confidence in Nike’s market stability. The company’s stock performance is noteworthy, currently above its fifty-day moving average of $77.91. However, the absence of EBITDA data may leave some gaps in understanding operational efficiency, necessitating further analysis to fully evaluate Nike’s financial health.

Analyst Sentiment and Recommendation

With a total of 36 analysts weighing in on Nike’s stock performance, the consensus recommendation leans towards a strong buy, reflected in a recommendation mean score of 2.4. The target price range from $57.00 to $120.00 signifies varying analyst expectations while aligning with the current stock price’s position above the fifty-two week low of $70.75, yet below the high of $123.39. This positioning not only signals Nike’s potential for growth but also highlights positive momentum in its recent performance, reinforcing optimism among investors and market analysts alike.

In summary, Nike, Inc. continues to demonstrate strong revenue figures, compelling market analysis, and overall favorable analyst sentiment, making it a potential leader in the consumer cyclical space and an excellent investment opportunity for interested shareholders.

Metric	Value
Market Cap	$129.7b
Total Debt	$12.0b
Total Cash	$11.6b
Shares Outstanding	1.2b
Float Shares	1.2b