Nike (NKE) Stock Forecast and Price Target

Nike, Inc. (stylized as NIKE) is an American sports footwear and clothing manufacturer based in Beaverton, Oregon. This company’s revenue exceeded US$46 billion in fiscal year 2022! It stands tall as the world’s largest provider of athletic shoes and clothing. It also produces sports equipment. 

On January 25, 1964, University of Oregon track athlete Phil Knight and his coach, Bill Bowerman, launched Nike as Blue Ribbon Sports (BRS). The firm began in Eugene, Oregon, as a distributor for Japanese shoemaker Onitsuka Tiger, with most sales made during track meetings from Knight’s car. 

It became Nike, Inc. on May 30, 1971. Nike, the Greek goddess of triumph, inspired the company’s name. Nike sells its goods under several brands, including Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, Nike CR7, and subsidiaries.

Prices

The current stock price of Nike, Inc. is 106.87, with a total market cap worth 164.26 billion (44 million shares outstanding). Nike, Inc. trades on the New York Stock Exchange under the symbol NKE. Nike, Inc. has gained 0.30% in the last 24 hours. The stock price prognosis for Nike, Inc. is now positive.  The trailing-twelve-month dividend rate for Nike, Inc. is $1.249710 per share, with a dividend yield of 0.01%.

The stock price has fallen by -8.50% in the recent 52 weeks. Nike, Inc.’s beta is 1.12. That indicates the stock’s price volatility has been more than the market average. The most recent short interest is 15.73 million, highers-enting 1.02% of the outstanding shares. 

Nike, Inc. has 1.54 billion outstanding shares. In one year, the number of shares has declined by -2.55%. The firm now has $10.68 billion in cash and $12.14 billion in debt, for a net cash position of -$1.47 billion, or -$0.96 per share. 

Operating cash flow was $5.84 billion in the previous year, with capital expenditures of -$969.00 million, for a free cash flow of $4.87 billion. The company’s current ratio is 2.72, and its debt-to-equity ratio is 0.87.

Analysis

Nike Inc.’s stock price has been sliding for the past three months, lowering by 13.59%, according to price action. NKE Stock is currently trading at $108.81. It has flipped the trend after taking support by making higher highs and lower lows and rising by following the trendline. 

Consequently, the NKE stock price might continue to rise and hit the first and second goals of $114.42 and $120.67 if it maintains the present level. If the NKE price fails to maintain its current level and falls, it may test the nearest support levels of $104.03 and $97.18.

The RSI is now at 49.45 points. Nike Stock is positive since the 14 SMA is above the median line at 49.01 points. It indicates that the RSI has taken 14 SMA support.

The MACD line at 0.2360 and the signal line at 0.3687 are both lower than the zero line and have crossed in on each other. The MACD oscillator shows a bullish crossing. It may suggest that the Nike stock price will continue to rise.

On the Daily Chart

• The Moving Averages Convergence Divergence (MACD) indicator for Nike (NKE) is -0.33, indicating that Nike is a Buy.
• Nike’s (NKE) 20-Day exponential moving average is 108.62, while the stock price is $106.83, indicating a Sell.
• Nike’s (NKE) 50-Day exponential moving average is 109.89, while the stock price is $106.83, indicating a Sell.

On the Weekly Chart

• The Moving Averages Convergence Divergence (MACD) indicator for Nike (NKE) is -2.36, indicating that Nike is a Buy.
• Nike’s (NKE) 20-Day exponential moving average is 111.74, and the stock price is $106.83, indicating a Sell.
• Nike’s (NKE) 50-Day exponential moving average is 114.55, and the stock price is $106.83, indicating a Sell.

Indicators:

• The Relative Strength Index (RSI) for Nike (NKE) is 42.08, indicating a Neutral signal.
• The Trend Strength Indicator (ADX) for Nike (NKE) is 14.85, indicating a Buy recommendation.
• The Commodity Channel Index (CCI) for Nike (NKE) is -61.15, indicating a Neutral signal.
• The Price Rate of Change (ROC) for Nike (NKE) is -15.55, indicating a Sell signal.

Prediction

According to our current NKE stock projection, the value of Nike shares will fall by -2.09% by August 21, 2023. It will reach $104.43 price per share. Our technical indicators indicate the present attitude is Bearish, with the Fear & Greed Index reading 39 (Fear). 

Over the previous 30 days, NKE stock had 13/30 (43%) green days and 1.28% price volatility. According to our Nike stock forecast, it’s presently a terrible time to purchase NKE stock because it’s trading 2.13% higher than we predicted.

Nike Stock Forecast 2025

The Nike stock forecast for 2025 is now $146.51. This prediction is based on the fact that Nike shares will continue to increase at the same average annual rate as they did in the last ten years. The NKE stock price would rise by 37.36% as a result.

Nike Stock Forecast for 2030

If the Nike stock continues to increase at its current 10-year average pace, it will be worth $323.98 in 2030. If this Nike stock forecast for 2030 comes true, NKE stock will increase 203.75% from its current price.