Nike’s stock slid 1.7% to $40.07 in pre-market trading on Tuesday, extending a year-long decline that has pushed the shares to a 12-year low. The sportswear giant’s 52-week range stands between $38.86 and $79.51, with the current price well below the consensus analyst target of $45.
Analysts at Stifel and RBC Capital both reiterated their ratings and price targets following investor meetings with CEO Elliott Hill in London on August 24. Stifel maintained a Hold rating with a $45 target, while RBC Capital kept a Sector Perform rating with the same objective. The meetings coincided with a Stifel survey indicating Nike remained the most popular footwear brand in 45.8% of retail checks, up from an all-time low of 38.2% in 2025 but still far below the 92.5% peak in 2021.
The company’s recovery has been slower than anticipated due to extended lead times and supply chain disruptions linked to the ongoing conflict in Iran. Management also highlighted structural challenges, including weak digital demand, softening sales in Greater China, and intensifying competition from rivals. These factors have contributed to a nearly 47% decline in Nike’s stock over the past year.
Broader U.S. equity markets showed modest gains at the time of reporting, with the S&P 500 up 0.4%, the Dow Jones Industrial Average adding 0.4%, and the Nasdaq rising 0.8%. The underperformance of Nike shares reflects company-specific pressures rather than broader market weakness.
