Nike Inc. (NYSE:NKE) faces a more cautious Wall Street setup ahead of its fiscal first-quarter earnings report on Oct.
Recent analyst actions include RBC Capital cutting its price forecast to $40 from $45 while maintaining a Sector Perform rating. Evercore ISI lowered its forecast to $34 from $46 with an In Line rating.
Analyst Piral Dadhania said Nike’s current-quarter guidance is relatively tight, making a first-quarter miss less likely. 7% in constant currency.
The analyst expects North American revenue to fall 1% in constant currency, while Europe, the Middle East and Africa could decline 5%. Greater China remains the biggest pressure point, with RBC forecasting a 15% drop amid elevated inventories and discounting.
RBC also expects Converse revenue to fall 25% in constant currency, saying the brand’s turnaround could take time as Nike rightsizes the business and aligns its cost base with weaker sales. Dadhania said new CFO David Denton could reset expectations ahead of Nike’s capital markets day on Nov.
16-17. 1% decline from a previous 2% drop.
Still, RBC sees some signs of improvement. com traffic has recovered from a low base, while newer products such as Pegasus Premium and Vomero 18 have generated stronger search interest.
The estimates point to continued pressure on sales and profitability. In its most recent quarter, Nike reported earnings of 20 cents per share, beating the 13 cents estimate.
In December 2025, Nike reported earnings of 53 cents per share versus estimates of 38 cents. The recent track record shows Nike has repeatedly cleared Wall Street’s lowered expectations.
77 at the time of publication on Wednesday. Will Upcoming Earnings Lead to a Reversal?
