Nike Inc. (NYSE:NKE) reported better-than-expected financial results for the third quarter of fiscal 2026 after the market closed on Tuesday.
Nike reported third-quarter revenue of $11.28 billion, beating analyst estimates of $11.24 billion, according to Benzinga Pro. The athletic footwear and apparel company posted third-quarter earnings of 35 cents per share, beating analyst estimates of 31 cents per share.
“This quarter, we took meaningful actions to improve the health and quality of our business. The pace of progress is different across the portfolio and the areas we prioritized first continue to drive momentum,” said Elliott Hill, president and CEO of Nike.
Nike said it sees fourth-quarter sales of $10.656 billion to $10.878 billion, versus market estimates of $11.236 billion.
Nike shares fell 11.1% to $46.98 in pre-market trading.
These analysts made changes to their price targets on Nike following earnings announcement.
- BTIG analyst Robert Drbul maintained Nike with a Buy and lowered the price target from $90 to $75.
- B of A Securities analyst Lorraine Hutchinson downgraded the stock from Buy to Neutral and lowered the price target from $73 to $55.
Considering buying NKE stock? Here’s what analysts think:
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