Nike (NKE) Does (Almost) Great in Q3; Analysts Comment, Raise Targets

Nike (NYSE: NKE) is slumping following buy-the-rumor-sell-the-news action on its third-quarter numbers. That, or the slight compression in gross margins is driving investors to the sidelines.

After the market closed Thursday, Nike reported earnings of $1.20 on revs of $5.85 billion, besting views calling for EPS of $1.17 and revs of $5.82 billion. Further, future orders rose 18 percent, excluding currency effects, thumping views seeking just a 13 percent gain.

Gross margins, as mentioned above, consolidated two percentage points to 43.8 percent.

For more color on the quarter, click here.

How'd the analysts respond today? Here's a brief list:

• Citi took Nike off of its "Top Picks Live" list.
  
• Canaccord kept its Hold rating and issued some comments. The firm moved its price target from $96 to $104;
  
• Auriga also maintained a Buy and gave an assessment; and
  
• Jefferies issued some positive comments, keeping its Buy rating all the while.

The following is a list of price target changes. Notice how all the targets are increased:

• ISI from $110 to a new target of $130, maintaining a Buy rating;
  
• Baird boosted its target 15.7 percent from $108 to $125. Baird has an Outperfom on Nike; and
  
• Credit Suisse from $91 to $117, keeping its Neutral rating.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Marvell (MRVL) PT Raised to $225 at TD Cowen
• OMNIQ Corp. posts Q2 2026 revenue of $7.4M, widens net loss
• Suncrete Inc (RMIX) PT Lowered to $22 at Jefferies