Nike faces fresh downgrade from Evercore, shares trade lower ahead of earnings

By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-23, 20:22.

Nike (US6541061031) draws renewed scrutiny from Wall Street today. Evercore ISI downgraded the NYSE-listed group to In Line from Outperform and cut its price target, citing a slower turnaround and weaker long-term revenue outlook, according to a market comment on Finviz.

What Evercore now expects

Evercore ISI trimmed its Nike price target to 46 US dollars from 57 dollars and shifted its stance to In Line from Outperform, according to an analyst summary published today. The note flags concerns about the pace of the turnaround and long-term revenue trends at the S&P 500 constituent. Finviz analyst overview for Nike

The downgrade adds to a series of cautious moves from banks in recent months, including cuts from RBC Capital Markets, Wells Fargo and HSBC between April and June with price targets in the mid-40 to 50 dollar range. MarketBeat round-up on recent Nike downgrades

Analysts prepare for next week's earnings

Analysts highlight that Nike faces U.S. channel weakness, ongoing pressure in the Jordan brand and European supply delays, factors seen as central in the Evercore argument and other recent notes. MarketBeat reports that these headwinds leave investors cautious ahead of next week's quarterly earnings release. MarketBeat explanation of why Nike is down today

On the NYSE, Nike shares recently changed hands around 42.9 dollars on June 23 with the stock fractionally lower intraday, according to consolidated quote data. That level leaves the footwear group well below earlier 2026 analyst targets in the 50 to 70 dollar band reported in the same analyst overview. FinancialData consolidated quote for Nike

How Nike earns its money

Nike generates most of its revenue from athletic footwear and sportswear sold under the Nike and Jordan brands. The company also earns from equipment and accessories and continues to push direct-to-consumer sales through its Nike.com platform and own-store network in key markets worldwide.

Where the Nike shares trade today

The Nike shares (US6541061031) traded on the NYSE at about 42.91 US dollars as of 2026-06-23, 11:46 Eastern time, based on consolidated market data.

This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities. All data are based on sources deemed reliable but cannot be guaranteed.