These Analysts Cut Their Forecasts On Nike After Q3 Results

Nike Inc. reported third-quarter revenue of $11.28 billion and earnings of 35 cents per share, surpassing analyst estimates of $11.24 billion and 31 cents per share, respectively. However, the company projected fourth-quarter sales between $10.656 billion and $10.878 billion, below market expectations of $11.236 billion. Following the earnings announcement, Nike shares fell 11.1% to $46.98, and analysts adjusted their price targets, with BTIG lowering it from $90 to $75 and B of A Securities downgrading from Buy to Neutral with a target cut from $73 to $55.