Shares of Nike (NKE), the legacy athletic apparel brand, continued to jump during early trading on Wednesday, riding the momentum from after-hours trading the previous day. This is thanks to its first-quarter 2026 results that exceeded Wall Street’s expectations.
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The latest results have earned NKE stock price target boosts from several top Wall Street analysts. However, analysts remain divided on what the results mean for the company going forward, especially against the backdrop of general sales declines in previous quarters (see the chart below).
During the recent quarter, Nike reported that its revenue rose by 1% year-over-year to reach $11.7 billion, surpassing Wall Street expectations by $710 million. The company also earned 49 cents per share, outdoing the expected earnings per share of 27 cents.
Turnaround Validation vs. Ongoing Skepticism
Reacting to the update, analysts from Morgan Stanley (MS), JP Morgan (JPM), HSBC (HSBC), and Stifel (SF) all raised their price targets on NKE stock. However, they share differing views on where the company is headed.
On the positive side, Stifel analyst Jim Duffy sees the revenue growth as “strong signs of validation of the turnaround” and looks forward to Nike’s “steady building” into the next fiscal year, with additional boost from the planned 2026 FIFA World Cup. Similarly, HSBC analyst Erwan Rambourg spots “core Nike brand finally stabilizing”, propelled by sales growth in North America amid a shrinking one in China.
On the contrary, Morgan Stanley analyst Alex Straton believes that the earnings “did little” to beat down his team’s “ongoing skepticism” that Nike can return to its prior growth and profit milestones. Straton noted that the global sportswear market remains fragmented, possibly keeping historical growth heights “out of reach permanently” for legacy companies in the sector.
Despite this upbeat view and raising his price target from $64 to $68, Stifel’s Jim Duffy remains cautious and stuck to his Hold rating for the stock. He noted that this is “not a doubt of a return to healthy growth” but reflects his team’s belief that Nike’s potential growth is already accounted for in its valuation.
Similarly, Morgan Stanley’s Alex Straton kept his Equalweight rating on the stock, raising his price target from $70 to $72. Straton noted that Nike’s evidence of a turnaround was held back by “imperfect trajectories” across its channels, markets, and product categories.
On the other hand, HSCBC’s Erwan Rambourg recommitted to his Buy rating on the stock. He raised his price target to $90 per share, up from $88.
Also echoing a bullish sentiment, JP Morgan analyst Matthew Boss upgraded his price target for NKE stock for the 2026 calendar year from $93 to $100, keeping his Overweight rating. Boss, who based the raise on how the shares have historically been valued relative to Nike’s growth, expects Nike’s earnings per share to expand about 15–19% annually.
Is NIKE Stock a Buy, Sell, or Hold?
Across Wall Street, Nike’s shares currently have a Moderate Buy consensus rating, as seen on TipRanks. This is based on 11 Buys and 11 Holds assigned by Wall Street analysts over the past three months. However, the average NKE price target of $83.17 suggests a 19.27% growth potential.
