Shares of Nike (NYSE:NKE) surged over 11% in after-hours trading after the company reported earnings for its second quarter of Fiscal Year 2023. Earnings per share came in at $0.85, which beat analysts’ consensus estimate of $0.64 per share.
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Sales increased by 19% year-over-year, with revenue hitting $13.32 billion. This also beat analysts’ expectations of $12.58 billion.
Overall, Wall Street has a consensus price target of $117.63 on Nike, implying 13.97% upside potential, as indicated by the graphic above.