Nike Stock (NKE) Today: Analyst Targets Split Ahead of Dec. 18 Earnings as “Win Now” Turnaround Faces Margin, China, and Tariff Tests

Nike stock (NKE) is in focus on Dec. 12, 2025 ahead of Q2 FY2026 earnings. Here’s the latest news, analyst targets, and what to watch next.

Nike, Inc. (NYSE: NKE ) is back in the spotlight on Friday, December 12, 2025 , as investors position ahead of the company’s next earnings report and fresh analyst notes land on Wall Street. Shares have been volatile in recent sessions, and Friday’s tape reflects that: Nike traded between $67.34 and $69.13 and was last seen around $67.50 in late afternoon trading, slightly below the prior close.

That push-pull—optimism that Nike’s turnaround efforts are gaining traction versus concerns about profitability, competition, and macro headwinds—defines today’s coverage. Below is a comprehensive roundup of the major headlines, forecasts, and analyzes published on 12/12/2025 , plus the key numbers and narratives investors are watching into next week’s earnings catalyst.

Nike stock price today: NKE swings as investors position into earnings

Nike shares were mixed later in the session after earlier strength. In the morning, Nike was cited among the stocks helping lift the Dow Jones Industrial Average , with MarketWatch noting Nike among key contributors during early trading. ^[1]

By late afternoon (UTC timestamp), Nike was trading near $67.50 , down modestly on the day, after opening near $67.69 and ranging up to $69.13 .

Why it matters: For a widely held Dow component with a massive consumer footprint, a two-dollar intraday range is a sign the market is actively debating what Nike’s near-term earnings power looks like—and whether the turnaround can rebuild margins without sacrificing demand.

Dec. 12, 2025 Nike stock headlines: what changed today

Here are the most important, dated 12/12/2025 , developments shaping Nike stock coverage today:

Nike helped drive early Dow strength: MarketWatch highlighted Nike’s gains as one of the contributors supporting the Dow earlier Friday. ^[2]
New deep-dive analysis ahead of earnings: An Investing.com feature published today framed Nike as facing “revenue and margin headwinds” into the upcoming quarter, while emphasizing that valuation and sentiment hinge on proof the turnaround is working. ^[3]
BTIG reiterates a bullish stance: BTIG Research reaffirmed a “Buy” rating on Nike with a $100 price target , according to a MarketBeat report published today. ^[4]
Jefferies stays positive: A MarketScreener item published today said Jefferies reiterated a “Buy” and maintained a $115 target price on Nike. ^[5]
A notable bearish counterpoint: TipRanks/TheFly reported today that BWG Global downgraded its view on Nike to Mixed from Positive, citing checks. ^[6]
Macro backdrop: risk appetite wobbles: Reuters reported today that US stocks were squeezed by a tech-led pullback tied to Broadcom’s outlook, reinforcing a narrative rotation (growth/AI sensitivity versus value/defensives). That broader tone can influence consumer discretionary names like Nike, especially into earnings. ^[7]

Taken together, today’s story is less about a single Nike-specific corporate announcement and more about positioning : analysts staking out targets, investors debating the slope of recovery, and the market bracing for a major Dec. 18 event.

Nike earnings date is confirmed: Q2 FY2026 results arrive Dec. 18

Nike has confirmed it plans to release second-quarter fiscal 2026 results on Thursday, December 18, 2025 , after the close . The company said results are expected around 1:15 pm PT , followed by a management conference call at 2:00 pm PT . ^[8]

That makes the next six days a classic setup window: investors and analysts recalibrate expectations, and the stock can move sharply on incremental datapoints (channel checks, competitor read-throughs, macro prints) even before Nike reports.

Forecasts for Nike Q2 FY2026: what Wall Street expects

Consensus expectations cited in today’s coverage point to a quarter that may still look “messy” year-over-year:

EPS: around $0.37
Revenue: roughly $12.15–$12.19 billion
Year-over-year direction: earnings expected down materially, revenue modestly lower ^[9]

Those figures are consistent with the narrative that Nike is prioritizing a reset and cleanup (inventory, promotions, channel mix) even if that pressures near-term profitability.

The comparison point: Nike’s most recent reported quarter (Q1 FY2026)

Nike’s last reported quarter (fiscal Q1 2026 , ended Aug. 31, 2025) provides the baseline investors will measure against next week:

Revenue:$11.7 billion
Nike Direct revenue:$4.5 billion , down year-over-year
Wholesale revenue:$6.8 billion , up year-over-year
Gross margin:42.2% , down 320 bps
Diluted EPS:$0.49 ^[10]

Nike CEO Elliott Hill said the quarter showed progress tied to “Win Now” actions, while emphasizing the recovery won’t be uniform across geographies and channels. ^[11]

What investors will be listening for on the Dec. 18 Nike earnings call

Based on today’s analysis and the company’s latest disclosures, here are the themes most likely to decide whether Nike stock breaks higher—or gives back gains.

1) Are “Win Now” actions showing up in demand, not just messaging?

Nike has framed its near-term plan around operational execution in priority areas. The market’s core question: Is consumer demand stabilizing in the right franchises and geographies, or is Nike still buying revenue with discounting? ^[12]

2) Margin trajectory: promotions, channel mix, and tariffs

Nike’s Q1 gross decline margin was attributed to higher discounts , channel mix , product costs , and higher tariffs in North America , per Nike’s own reporting. ^[13]

That matters because margin is where turnarounds are either confirmed (pricing power returns) or questioned (the brand needs constant discounting to clear product).

3) China performance and regional balance

Nike stated that currency-neutral growth in North America was offset by a decline in Greater China in Q1. ^[14]

China has remained a swing factor for global sportswear brands. Investors will look for:

signs the decline is bottoming (traffic, sell-through, brand heat), and
whether Nike can compete effectively against both global rivals and strong domestic brands.

4) Direct-to-consumer versus wholesale: the channel reset continues

In Q1, Nike Direct revenue fell while wholesale rose—suggesting a continued rebalancing . ^[15]

Analysts will listen for whether Nike can:

lean on wholesale partners without diluting brand presentation, and
digital rebuild momentum without heavy promo intensity.

5) Inventory discipline and cash flow

Nike reported inventories of $8.1 billion , down year-over-year, but also tied part of inventory cost pressure to tariffs. ^[16]

Investors will focus on two practical questions:

Is inventory clean enough to support fewer markdowns?
Is cash generation improving as the cleanup progresses?

Analyst targets on Dec. 12: bullish $115 and $100 calls meet a downgrade

Nike’s analyst picture today is best described as high dispersion —a sign that conviction on the turnaround timeline is uneven.

The bullish end of the spectrum

Jefferies: reiterated Buy , target $115 ^[17]
BTIG: reiterated Buy , target $100 ^[18]

Both targets imply that, for these firms, Nike’s current price level leaves room for meaningful upside if the turnaround starts to show up in margins and cleaner demand trends.

The cautious/bearish counterweight

BWG Global: downgraded to Mixed from Positive, per TipRanks/TheFly ^[19]

That downgrade matters because it reflects the risk that “checks” (typically channel and demand indicators) are not yet supporting a confident rebound call.

The broader consensus snapshot

A Nasdaq-hosted summary based on aggregated analyst forecasts (as of early December) put Nike’s average one-year price target around $85.01 , with a wide range of estimates. ^[20]

In other words: Wall Street is not aligned on Nike’s recovery speed—so the earnings call could drive larger-than-usual revisions.

Fundamentals check: Nike’s recent financial arc and why it’s central to the debate

Investors today are essentially asking whether Nike is still in a profit-reset valley or already climbing out.

On Reuters’ company page financials (sourced from LSEG), Nike’s fiscal-year figures show a downshift in the last reported year:

FY2025 revenue:$46,309B (vs. $51,362B in FY2024)
FY2025 net income:$3,219B (vs. $5,700B in FY2024) ^[21]

Meanwhile, Nike’s executive leadership listing shows Elliott J. Hill as President and CEO, with Matthew Friend as CFO—two names investors increasingly associated with the turnaround narrative. ^[22]

Credit and balance-sheet pressure: Moody’s downgrade remains in the background

Even though this is not “new” today, it’s a topic that continues to show up in current analysis ahead of earnings.

In November, Reuters reported that Moody’s downgraded Nike’s senior unsecured debt by one note, citing cost pressures (including higher tariffs ) and weaker financial performance, while shifting the outlook to stable . Reuters also noted Moody’s expectation that Nike’s adjusted debt-to-EBITDA could peak around 2.5x in fiscal 2026 before improving in fiscal 2027. ^[23]

This matters into Dec. 18 because credit commentary often tracks:

the sustainability of shareholder returns,
the cost of restructuring/turnaround actions, and
cash flow resilience during margin compression.

Dividend and shareholder returns: Nike is still paying (and growing) cash returns

Nike has continued to emphasize shareholder returns even while navigating operational headwinds.

In Q1 FY2026, Nike said it returned ~$714 million to shareholders, including $591 million in dividends and $123 million in repurchases , and referenced its ongoing multi-year repurchase authorization. ^[24]
Separately, Nike announced its board declared a $0.41 quarterly dividend , payable Jan. 2, 2026 , to shareholders of record on Dec. 1, 2025 , marking an increase from $0.40 and extending a long streak of annual dividend increases. ^[25]

For long-term investors, that’s a signal of confidence. For skeptics, it raises the question: Is Nike returning cash at the right time, given margin pressure and restructuring costs? Both perspectives are in play.

Nike stock outlook: the bull case vs. the bear case into Dec. 18

The bull case for NKE

The turnaround is working: cleaner inventory, healthier wholesale growth, and fewer forced markdowns. ^[26]
Margins stabilize as the channel mix normalizes and product innovation improves sell-through. ^[27]
Analyst upside cases ($100–$115 targets) look more plausible if Nike shows credible progress and the market rewards improving visibility. ^[28]

The bear case for NKE

Revenue softness persists, especially in Greater China, and digital challenged remains. ^[29]
Margin pressure lasts longer due to promotions, tariffs, and competition, limiting near-term earnings power. ^[30]
Mixed analyst actions (including today’s downgrade) foreshadow cautious guidance commentary—pressuring the stock even if results meet consensus. ^[31]

What happens next: key catalyst calendar for Nike investors

Dec. 18, 2025: Nike Q2 FY2026 earnings release and conference call (after close). ^[32]
Jan. 2, 2026: Next quarterly dividend payment date (per Nike’s Nov. 20 declaration). ^[33]

In the meantime, broader market sentiment is also a variable. Reuters reported that today’s session featured tech-driven volatility tied to AI concerns—an environment where stock-specific catalysts (like earnings) can be amplified. ^[34]

FAQ: Nike stock (NKE) on Dec. 12, 2025

What is Nike’s ticker symbol?
Nike trades on the NYSE as NKE .

When does Nike report earnings?
Nike plans to report Q2 fiscal 2026 results on Dec. 18, 2025 , after the market close. ^[35]

What are analysts forecasting for Nike’s upcoming quarter?
Consensus expectations cited in current previews are around $0.37 EPS on approximately $12.15–$12.19B in revenue. ^[36]

What are the latest analyst price targets today (Dec. 12)?
BTIG reiterated Buy with a $100 target, while Jefferies reiterated Buy with a $115 target; BWG Global issued a downgrade to Mixed (per TheFly). ^[37]

Bottom line

Nike stock is trading in a pre-earnings debate zone : optimistic analyst targets and a “turnaround” narrative are colliding with real questions about margins, China, and the cost of resetting the business. Today’s Dec. 12 coverage makes one thing clear: Dec. 18 is the next make-or-break checkpoint for NKE’s 2026 story. ^[38]

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