NKE

Nike (NYSE:NKE | NKE Price Prediction) trades at $39.09, while Wall Street's average price target sits at $50.66, an implied upside of roughly 30%.

Nike stock has fallen 38% in 2026 as the sportswear giant's turnaround drags on, but some analysts still see signs of progress.

Nike's steep fall on Monday masked a deeper problem facing the sportswear giant: investors are growing increasingly skeptical that its long-awaited turnaround can restore growth after years of weakening demand, strategic missteps and mounting challenges across key markets. Nike shares fell about 4% on Monday, closing at their lowest level since September 2014 and extending the stock's prolonged decline.

Nike (NYSE: NKE) stock has fallen another 4%, trading at $39.06 at the time of writing on August 18, a level that marks a new 52-week low and the lowest intraday level in roughly 12 years.

Investors are ditching chip makers and other AI stocks that had helped keep the market afloat on Monday.

Nike is attractively valued, trading at ~24x FY27 earnings, with at least 40% upside to my $58–64 fair value range. Recent management changes, a back-to-basics strategy, and a renewed focus on innovation and retail partnerships are driving early signs of operational improvement. China remains a headwind, with growth expected at only 1.5–3% and margins unlikely to return to historical highs, but stabilization is anticipated.

In the latest trading session, Nike (NKE) closed at $39.09, marking a -4.02% move from the previous day.

NKE's athlete-led innovation and localized strategy aim to revive consumer demand, with new products and technology supporting its reset.

Nike Inc (NYSE:NKE, XETRA:NKE) shares fell 4.3% Monday to their lowest level since September 2014, extending a decline that has now wiped out more than $200 billion in market value since the stock's 2021 record high, a drop of 78%. Soft direct-to-consumer sales and a fresh analyst downgrade weighed on the stock as it hovered near multi-year lows.

Nike stock continued its strong downward trend, reaching its lowest level since September 2024, as investors remained impatient about its turnaround strategy. NKE dropped to $38.94, down by over 78% from its highest point on record.