Nike (NKE) news that moved the stock

What happened

Berenberg analysts downgraded Nike to Sell from Hold on Tuesday and slashed their price target to $27.50 from $49 — one of the most bearish calls on the Street. The move follows last week's weak guidance, which had already drawn target cuts to $36 from Baird and Stifel. Nike shares, down 47% year-to-date through Monday, edged up about 1% to $34.33 Tuesday, but the downgrade keeps the stock firmly under pressure.

What happened

A broad wave of analyst rating changes hit Friday. KeyBanc Capital Markets upgraded Airbnb from sector weight to overweight with a $191 price target, citing product momentum; ABNB rose 1%+ on the news. RBC downgraded Northrop Grumman from overweight to sector weight and cut its price target, flagging a more cautious defense backdrop — a notable bearish call in an otherwise upbeat Friday ratings session. On Nike, Baird cut its rating to neutral (target $36) and Stifel lowered its target to $36 while keeping hold, both following the FQ1 revenue miss ($11.21B vs $11.32B est) and the full-year guidance reset to $1.15-$1.35 EPS vs ~$1.66 consensus; Bernstein kept an outperform on Nike post-earnings. Rothschild & Co Redburn upgraded Abbott Laboratories to buy on improved medtech visibility.

What happened

Nike reported fiscal Q1 2027 results after Thursday's close: adjusted EPS of $0.48, a modest beat versus the $0.44 consensus, but revenue of $11.21 billion came in below the ~$11.33 billion estimate and fell 4% year over year (Nike brand revenue -4% in constant currency, North America a bright spot while China and EMEA sagged; Converse revenue tumbled 28% to $263M). The bigger news was the outlook: Nike expects full-year revenue to decline by high-single digits — a steeper drop than the low-single-digit decline analysts had predicted — and guided FY2027 adjusted EPS to $1.15-$1.35 versus the $1.67 Street estimate, implying shrinking EPS. The stock fell more than 4% in regular trading Thursday and was down about 6% in extended trading after the report.