Nike Posts Mixed Q1 Results, Joins Mangoceuticals And Other Big Stocks Moving Lower In Friday’s Pre-Marke

Bank of America lowered its earnings forecast for Nike (NKE), pushing back its expected growth recovery to Q3 2028 due to weakness in the Jordan business. The firm cut its 2028 EPS estimate by 11% to $1.31 but maintained a $24 price target. Nike's sales are projected to decline 9% in 2028, 1% in 2029, and then grow 4% annually through 2031, leaving revenue flat compared to 2026 levels. The broker also expressed concerns about Nike's dividend sustainability.

NIKE (NKE) appointed Dan McKenzie as vice president, chief accounting officer, and principal accounting officer. David Denton will step down from his interim roles. McKenzie's compensation includes a $500,000 annual salary and performance-based bonuses. Both changes are effective November 9, 2026, according to the company's SEC filing.

Analysts from Wells Fargo and others updated ratings on thredUP (TDUP), Texas Roadhouse (TXRH), and Nike (NKE). thredUP received a Buy rating with a $3.00 target, Texas Roadhouse a Buy with a $220.00 target, and Nike a Hold with a $34.00 target. Consensus ratings and targets vary for each company, with thredUP showing the highest upside potential.

Nike (NKE) shares rose 19% in a month, but Morgan Stanley cut its price target to $25, arguing the company's sales reset is unfinished. Revenue fell 4% to $11.21B in Q1, with sportswear and Jordan categories declining. Management expects high-single-digit revenue decline for the fiscal year. Morgan Stanley sees potential downside at the upcoming investor day, with sales expected to settle near $40B, 22% below the 2024 peak.

Truist downgraded Nike (NKE) to Sell, maintaining a $29 price target. The firm argues the stock's 19% rally doesn't reflect business improvements, citing valuation at 27x earnings and risks in Sportswear and Jordan businesses. Analysts note challenges in running, China, and recent underperforming product launches. Fiscal 2028 EPS estimate was cut to $1.30, below consensus of $1.50.

Truist downgraded Nike (NKE) to 'Sell', citing revenue analyses suggesting sales of $40B, 15% below FY31 consensus. Nike reported a 4% revenue decline in Q1 2027, missing expectations, with China revenue down 26%. Sportswear and Jordan businesses declined, while Running and Global Football grew. NKE shares are down 33% YTD.