Analysts are bullish on Nike shares even after the apparel giant's earnings miss

Analysts remain bullish on Nike's direct-to-consumer strategy and brand momentum, even after the sports apparel giant's disappointing earnings results. Nike shares slid 3% in the premarket. The company missed earnings expectations for the first time in three years because of lower margins. However, Nike did exceed revenue forecasts. In its fiscal fourth quarter , Nike reported per-share earnings of 66 cents, which was lower than the 67 cents anticipated by analysts polled by Refinitiv.

JPMorgan's Matthew Boss also kept his overweight rating. He cited Nike's better-than-expected revenue, improving inventories, as well as no change to the brand's momentum in its direct-to-consumer strategy.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

These are analysts' favorite S&P 500 stocks heading into the second halfCNBC Pro screened for well-liked stocks with large expected upside.
Source: CNBC - 🏆 12. / 72 Read more »

Micron recovery debated by analysts as bottom is called in memory-chip marketMicron’s stock declined Thursday after analysts acknowledged that the memory-chip maker is on the road to recovery but debated how long that would take.
Source: MarketWatch - 🏆 3. / 97 Read more »

Nike beats sales expectations, misses on earnings as margins dropNike reported fiscal fourth quarter earnings that beat Wall Street's expectations on revenue but missed on profits.
Source: CNBC - 🏆 12. / 72 Read more »