Is Nike Stock (NKE) a Buy Ahead of Q4 Earnings?

Nike (NKE) is set to report its Q4 FY25 results on Thursday, June 26, after the market closes, and all eyes are on whether the sportswear giant can turn things around. The stock is down about 20% so far this year, weighed down by soft sales, rising competition, and growing investor concern over its product strategy. On top of that, Nike has also been dealing with higher costs and excess inventory, both of which have hurt profit margins. As a result, Wall Street sentiment remains cautiously optimistic heading into earnings.

What to Expect from Nike’s Q4 Earnings

Wall Street analysts expect Nike to report earnings of $0.12 per share for Q4, down 88% from the year-ago quarter. At the same time, analysts project Q4 revenues at $10.70 billion, according to the TipRanks Analyst Forecasts Page. The figure marks a year-over-year decrease of over 15%.

Analyst’s Views Ahead of Q4 Print

Ahead of the Q4 print, Needham analyst Tom Nikic lowered his price target on Nike to $66 from $75 but maintained a Buy rating. He believes the company’s long-term outlook remains solid, thanks to recent leadership changes. However, near-term challenges persist. Nikic pointed to weak demand for key product lines like Jordan and Dunk, a lack of brand momentum, and added pressure from tariffs. While he expects Nike to slightly beat expectations in Q4, he has trimmed his earnings forecasts for 2026 and 2027.

Meanwhile, Morgan Stanley analyst Alex Straton also reduced his price target to $61 from $70, and kept a neutral rating on the stock. He believes Nike’s recovery could take longer than expected, partly due to tariff issues and a weaker global outlook. Straton added that demand at retailers is still weak. He also noted that Nike’s recent product launches haven’t resonated with consumers, and the brand has yet to regain its momentum in the market. That said, with expectations already low ahead of the earnings report, any small positive surprise could help lift the stock in the short term.

Is Nike Stock a Buy or Sell?

Turning to Wall Street, analysts have a Moderate Buy consensus rating on NKE stock based on 13 Buys and 12 Holds assigned in the last three months. Furthermore, the average NKE price target of $73.68 per share implies 23.8% upside potential.

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