Nike (NKE) is a Top-Ranked Momentum Stock: Should You Buy?

Company Overview - NIKE Inc. is headquartered in Beaverton, OR, and was incorporated in 1967, focusing on designing, developing, and marketing athletic footwear, apparel, equipment, and accessories globally [7] - The company operates in over 160 countries and is recognized as the global leader in athletic footwear, apparel, equipment, and sports-related accessories, supported by a strong brand portfolio including Nike Pro, Nike Golf, Nike+, and Air Jordan [7] Investment Ratings - NIKE is currently rated as a 3 (Hold) on the Zacks Rank, with a VGM Score of B, indicating a moderate investment outlook [7] - The company has a Momentum Style Score of A, reflecting positive price trends, with shares up 0.7% over the past four weeks [7] Earnings Estimates - For fiscal 2024, eight analysts have revised their earnings estimates upwards in the last 60 days, leading to an increase in the Zacks Consensus Estimate by $0.12 to $3.73 per share [8] - NIKE has demonstrated an average earnings surprise of 22.6%, indicating a strong performance relative to expectations [8] Summary of Style Scores - The VGM Score combines value, growth, and momentum styles, helping investors identify stocks with attractive value, promising growth forecasts, and strong momentum [4] - The Style Scores are designed to work in conjunction with the Zacks Rank, enhancing the likelihood of selecting successful stocks [6]