Nike shares have declined by approximately 40% in 2026, making the company the worst performer in the Dow Jones Industrial Average. The stock closed at $38.40 on Friday, resulting in a market capitalization of $56.97 billion, down from $264 billion at the end of 2021.
Wall Street analysts maintain an average 12-month price target of $50.46. However, JPMorgan and Truist have recently downgraded the stock, setting targets at $40 and $42 respectively. JPMorgan analysts noted that the company's strategy could impact earnings through fiscal 2028 and create over $1 billion in annual revenue pressure in Greater China.
S&P Dow Jones Indices will remove Nike from the S&P 100 on September 21, 2026. The company reported fiscal 2026 revenue of $46.4 billion, which remained flat year over year. While wholesale revenue grew by 6%, Nike Direct revenue fell by 6% and digital sales dropped by 12%.
Algorithmic forecasts from CoinCodex suggest a potential recovery in early 2027, with price targets reaching $43.07 in February. However, the projection indicates that momentum may weaken in the second half of 2027, with average prices potentially falling to $31.80 by September.
