These Analysts Slash Their Forecasts On Nike After Q2 Results

Group 1 - Nike Inc. reported second-quarter revenue of $12.43 billion, exceeding analyst estimates of $12.22 billion, and earnings of 53 cents per share, surpassing expectations of 38 cents per share [1] - The company experienced a decline in gross margins for the second consecutive quarter [1] - CEO Elliott Hill stated that Nike is making progress in its comeback strategy and is confident in its long-term growth and profitability actions [2] Group 2 - Following the earnings announcement, Nike shares fell by 11.8% to $57.90 in pre-market trading [2] - Analysts adjusted their price targets for Nike, with Telsey Advisory Group lowering it from $75 to $72, Needham from $78 to $68, Piper Sandler from $84 to $75, B of A Securities from $84 to $73, and Bernstein from $90 to $85 [3]