Nike stock dips even after Jefferies’ “buy aggressively” call — what NKE investors are watching next
Nike shares fell 0.6% to $65.52 Monday afternoon, underperforming the broader market despite Jefferies reaffirming its buy rating and $110 price target ahead of the ICR conference. Nike’s latest quarter showed revenue up 1% to $12.4 billion, but net income dropped 32% and gross margin fell to 40.6% due to higher tariffs. Wholesale revenue rose, while direct and Converse sales declined.