Nike Q4 Earnings Preview: Market Expert Says 'Things Aren't Looking Good'

Footwear and apparel leader Nike Inc NKE could highlight a continued turnaround effort and its go-forward growth strategy when it reports fourth-quarter financial results after the market closes on Thursday.

Here's a look at the analyst estimates, what experts are saying and key items to watch.

Earnings Estimates: Analysts expect Nike to report fourth-quarter revenue of $10.71 billion, down from $12.61 billion in last year's fourth quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in two straight quarters and beaten estimates in six of the last 10 quarters overall.

Analysts expect Nike to report fourth-quarter earnings per share of 12 cents, down from 99 cents per share in last year's fourth quarter.

The company has beaten analyst estimates for earnings per share in seven straight quarters and nine of the last 10 quarters.

What Experts Are Saying: Investors who are looking to buy Nike stock may want to wait until after the dust settles from the latest earnings report.

"Nike has traded lower after eight of its last nine earnings reports, including the last six in a row," Freedom Capital Markets Chief Global Strategist Jay Woods said in a weekly newsletter.

Woods said Nike stock is down 66% from its all-time high in 2021.

"Earnings have not been good to the iconic sports brand. Shareholders have been anxiously waiting for new management to turn things around, but high inventories and now tariff concerns have stymied any sense of a sustainable rally."

Looking at the stock chart, Woods said "things aren't looking good."

"For this stock to finally reverse it needs more time and a few quarters of solid growth. It may be wiser trying to buy shares on a breakdown towards its lows around $52."

Needham analyst Tom Nikic said Nike stock could have modest upside in the fourth-quarter earnings, but the turnaround efforts are not over, in a recent note.

The analyst maintained a Buy rating, while reducing the price target from $75 to $66.

Nikic said estimates for the fourth quarter are conservative, while Street expectations for the next fiscal year are "too high" due to the impact of tariffs.

"While we believe that last year's change in leadership will eventually lead to brighter days for Nike, the company still has a lot of work to do to reignite brand heat and clean up the marketplace," Nikic said.

Bank of America Securities analyst Lorraine Hutchinson said Nike's fourth quarter could be the "peak" of sales and margin pressure in a recent note.

The analyst reiterated a Buy rating with an $80 price target on Nike.

Hutchinson said Nike's Spring '26 Innovation pipeline is strong, and Nike is in a good position to navigate wholesale challenges. The analyst said Nike can grow retail relationships and its shelf space as competitors scale back.

Here are other recent analyst ratings on Nike and their price targets:

Truist: Maintained Buy rating, lowered price target from $82 to $73
Evercore ISI Group: Maintained Outperform rating, lowered price target from $97 to $75
Deutsche Bank: Maintained Buy rating, lowered price target from $77 to $71
Barclays: Maintained Equal-Weight rating, lowered price target from $60 to $53

Key Items to Watch: Nike's third quarter results saw the North American sector (-4%) with the lowest year-over-year decline of the segments, while Greater China's 17% decline was the worst.

Investors will closely watch these two regions to see if trends continue and Nike gets closer to year-over-year breakeven.

Investors and analysts will likely want an update on the company's growth plans and several recent announcements.

In May, Nike announced it would begin selling on Amazon.com for the first time in six years. The move could mark a shift in Nike's future as it previously focused on selling directly to customers and likely saw Amazon as a competitor in the ecommerce space.

Nike announced a collaboration with Kim Kardashian's SKIMS brand in February but later announced it was delaying the launch. Investors and analysts could get an update on this new collaboration and how it could help Nike grow and reach new customers.

NKE Price Action: Nike stock was down 0.9% to $60.83 on Wednesday versus a 52-week trading range of $52.28 to $94.74. Nike stock is down 17.7% year-to-date in 2025.

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