Nike tops Wall Street estimates

Nike Inc. (NKE) reported its latest financial results for its fiscal 2022 fourth quarter after the closing bell in the US on Monday. World’s largest sporting goods company topped both revenue and earnings per share estimates.

The company reported revenue of $12.234 billion for the quarter vs. $12.061 billion expected.

Earnings per share reported at $0.90 per share vs. estimate of $0.80 per share.

”NIKE’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers,” John Donahoe, President and CEO of Nike said in a press release after the results.

”Our competitive advantages, including our pipeline of innovative product and expanding digital leadership, prove that our strategy is working as we create value through our relentless drive to serve the future of sport,” Donahoe added.

Nike Inc. (NKE) chart

Shares of Nike were down by around 2.13% at the end of trading day on Monday at $110.42 per share.

Here is how the stock has performed in the past year:

• 1 Month -4.73%
• 3 Month -18.03%
• Year-to-date -33.70%
• 1 Year -27.47%

Nike price targets

• Cowen & Co. $133
• Deutsche Bank $152
• Credit Suisse $130
• Citigroup $123
• Baird $150
• UBS $168
• Morgan Stanley $159
• HSBC $132
• Wells Fargo $150

Nike Inc. is the 61^st largest company in the world with a market cap of $173.90 billion.

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Sources: Nike Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap