The Week

Nike (NKE) fell 4.17% this week to close at $36.80, underperforming the S&P 500 by about 3.37 percentage points. The four-session week slid lower day by day. Tuesday opened at $38.52, touched $38.74, then faded to close at $38.10. Wednesday gapped lower and closed at $37.35 after trading as low as $36.85. Thursday extended the drop, hitting $36.55 intraday before finishing at $36.62. Friday held a narrow $36.62-$37.05 range and settled at $36.80. Weekly amplitude was 5.69%, and turnover ran about 37% above the 60-day median daily volume.

Key Events

The dominant story this week was Nike’s removal from the S&P 100. The announcement landed around Monday, with Dell, SanDisk and two tech names taking Nike’s place after almost 18 years in the index; Nike had lost roughly 80% of its market value from its earlier peak. The stock slid through Tuesday and Wednesday, making 52-week lows intraday. Around the same time, BMO assigned an underperform rating, UBS pointed out Nike was not the winner in China’s sportswear market, and Wolfe Research flagged potential tax-loss selling pressure. On the company side, Nike held its annual shareholder meeting virtually; shareholders approved an expanded employee stock purchase plan and rejected a climate proposal backed by Norway’s sovereign wealth fund.

Analyst Ratings

Across 42 brokers covering Nike, 10 rate it buy and 1 overweight, while 25 rate it hold, 2 underweight and 3 sell; 1 has no opinion. The consensus rating is hold, with a consensus target of $49.35, about 34.10% above the current price. Targets range from $23.00 to $94.00, a wide dispersion. Within the footwear industry, Nike ranks first across 9 peers and has more covering brokers than the industry median.

The Week Ahead

Nike has no earnings due in the immediate term, so attention shifts to next Tuesday’s New York Fed manufacturing index and Wednesday’s US retail sales. Retail sales softness in the prior reading means the Wednesday print, alongside consumption signals after recent tariff-related headlines, could move sentiment for consumer discretionary names like Nike. Further out, Nike reports fiscal Q1 2027 results after the close on 1 October, with estimates at $0.45 EPS and $11.4 billion revenue.

In Short

This week’s decline was shaped by the S&P 100 removal and cautious ratings from several brokers. Valuations at 17.57x P/E and 3.67x P/B do not yet signal a clear low, and the latest session’s flows show large-lot net selling against small-lot net buying. Pulling the signals together, the story remains one of passive index outflows meeting split broker views, with next week’s retail data and early October results the next tests of consumer resilience.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.