NIKE Stock Outlook: Is Wall Street Bullish or Bearish?

NIKE Stock Outlook: Is Wall Street Bullish or Bearish?

Aritra Gangopadhyay

Tue, August 4, 2026 at 1:57 PM GMT+3 2 min read

Beaverton, Oregon-based NIKE, Inc. (NKE) designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services for men, women, and kids in North America and internationally. The company has a market cap of $63.3 billion and offers its products under the NIKE, Jordan, Converse, Jumpman, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

NKE stock has lagged behind the broader market over the past year, declining 42.9% compared to the S&P 500 Index's ($SPX) 21.8% surge. Moreover, in 2026, the stock has fallen nearly 33.1%, underperforming the SPX's 11% rise as well.

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Focusing on its industry benchmark, the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) has grown 9.4% over the past year, outperforming the stock. In 2026, XLY has fallen 1% and has also rallied the stock.

Despite posting modest Q4 2026 earnings, investors still seem to be unsure about NKE's performance. The company's larger businesses continue to struggle, with its sportswear and Jordan Streetwear going through a phase of difficult sell-through trends, elevated discounting, and weaker future order books. Considering the fact that both of these businesses account for half of NKE's total revenue, things start to look a bit grim. Additionally, the company's revenue in APLA, EMEA and China, three massive regions, saw decline in its revenue in the quarter. Nike expects its upcoming quarter's revenue to decline by the low-to-mid single digits, with the management citing weaker discretionary consumer spending, declining store traffic, evolving tariff policies, and geopolitical disruption as the primary reasons.

For the current year, which ends in December, analysts expect NKE's EPS to grow 10.1% to $1.74 on a diluted basis. The company has surpassed the consensus estimate in each of the last four quarters.

Despite its underperformance, among the 36 analysts covering NKE stock, the consensus is a "Moderate Buy." That's based on 11 "Strong Buy" ratings, two "Moderate Buys," 20 "Holds," and three "Strong Sells."

The configuration has grown more bearish over the past two months, with the stock now having 11 "Strong Buy" ratings compared to 13 two months prior.

On June 25, Wells Fargo analyst Ike Boruchow assigned a "Hold" rating for NKE stock and set a price target of $45.

NKE's mean price target of $50.10 indicates a premium of 17.5% from the current market price. Its Street-high target of $75 implies a robust 75.9% upside from current levels.

On the date of publication, Aritra Gangopadhyay did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com