Why Is Nike Stock Falling on Friday? - Nike (NYSE:NKE)

Kylian Mbappé ended his partnership with Nike (NKE) to join On (ONON) in a cash-and-equity deal, marking On's first major soccer star. Nike chose not to renew Mbappé's contract. On aims to leverage Mbappé's global profile to expand into soccer, while Nike retains other major soccer agreements. Both companies' shares showed minimal movement post-announcement.

Bank of America analyst Lorraine Hutchinson downgraded Nike (NKE) to underperform, setting a $30 price target, 15% below current levels. She cites prolonged revenue weakness, Greater China sales decline, and wholesale inventory risks. Nike's stock is down 45% year-to-date. Hutchinson also lowered EPS estimates for 2027 and 2028, raising concerns about dividend durability with a 107% payout ratio projected for 2027.

Nike (NKE) shares hit a 10-year low at $35.22, down 43% in 2026 and 76% over five years. Bank of America downgraded NKE to Underperform with a $30 target, citing weak earnings and sales growth. S&P removed Nike from the S&P 100, triggering index fund rebalancing. China revenue fell 17%, and North America retail sell-through lags. BofA warns of an unsustainable dividend payout ratio. Earnings are due October 1.

Bank of America downgraded Nike (NKE), cutting its price target to $30 from $47 and lowering EPS forecasts for 2027 and 2028. The firm expects continued sales pressure through 2027, citing weak demand and challenges in China. Nike's revenue was $46.4B in fiscal 2026, with net income down 3% to $3.1B.

Bank of America downgraded Nike (NKE) to underperform, lowering its price target to $30 from $47. Analyst Lorraine Hutchinson cited rising risks, including downside to earnings estimates and sluggish sales growth. Nike's shares have fallen 47% over the past year, with challenges in China and intense competition noted. The bank expects negative sales growth through fiscal 2027.

Nike (NKE) shares fell 2% after BofA downgraded it to 'Sell' and cut its price target to $30, citing slower-than-expected sales recovery. The bank expects negative sales growth through 2027 and reduced EPS estimates. Nike is set to report Q1 earnings on October 1, with shares down 42% YTD.