Stock Track | Nike Plummets 5.02% Intraday Following Analyst Downgrades and Weak Forward Guidance

Stock Track07-06 22:37

Nike's stock price plummeted 5.02% during intraday trading on Monday, as the sportswear giant faced significant selling pressure in the market.

The sharp decline follows a wave of analyst downgrades and price target cuts from multiple investment banks, including Piper Sandler, Telsey Advisory, Barclays, and Wells Fargo. These moves reflect deep concerns over Nike's forward guidance, which projects low-to-mid single-digit revenue declines for the first half of fiscal 2027. This outlook significantly underperforms prior market expectations of modest growth.

Adding to investor worries is the company's performance in Greater China, where revenue fell 12% year-over-year in the fourth quarter, with direct-to-consumer sales continuing to decline. Furthermore, a lawsuit filed by 7-Eleven accusing Nike of trademark infringement over a planned sneaker release has introduced additional uncertainty to near-term sentiment.

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