3 Things to Know About Nike Stock in 2024
Accruing stock market gains is more of a marathon than a sprint, but (NYSE: NKE) still left investors wanting more this past year. The footwear giant's stock ended 2023 in negative territory, making it one of the worst-performing members of the Dow Jones Industrial Average. Shares haven't had a great start to the new year, either, declining 6% following last year's 7% slump.
With that tough backdrop in mind, let's look at Nike's chances of having a better year ahead from here. There are some encouraging signs of an earnings rebound on the way, but also some factors for investors to be wary about as well.
The headline growth result in the holiday quarter wasn't impressive. Nike's sales rose by just 1% in fiscal Q2 after inching up by 2% in the prior quarter. Management said in a conference call with investors that several positive factors impacted the business, including rising prices and higher spending on many of its most expensive footwear models. Nike also didn't need to engage as aggressively in the promotions that are driving prices lower across the industry.
Source Fool.com
Nike Inc. B Stock
The stock is one of the favorites of our community with 46 Buy predictions and 3 Sell predictions.
With a target price of 115 € there is a positive potential of 34.1% for Nike Inc. B compared to the current price of 85.76 €.
