- Lawsuit filed against Nike over NFT-related losses exceeding $5 million.
- Analysts predict a 31.32% upside potential for Nike's stock.
- GuruFocus estimates suggest a 66.64% upside based on GF Value metrics.
Nike (NKE, Financial), renowned for its innovative approach in the world of sports apparel, is currently embroiled in a significant legal battle. The company faces a lawsuit following the shutdown of its RTFKT unit, known for producing Nike-themed NFTs. Purchasers of these NFTs allege substantial financial losses, arguing the NFTs were unregistered securities. The abrupt termination of this venture, they claim, violates consumer protection laws, leading them to seek damages exceeding $5 million.
Wall Street Analysts' Insights on Nike
Wall Street analysts remain optimistic about Nike's potential, setting a one-year average price target of $75.67. This represents a substantial 31.32% upside from its current trading price of $57.62. Estimates vary, with a high of $120.00 and a low of $40.00. For more in-depth data, you can visit the Nike Inc (NKE, Financial) Forecast page.
Consensus among 41 brokerage firms indicates an "Outperform" status for Nike, with an average recommendation rating of 2.4 on a 1 to 5 scale (1 being Strong Buy and 5 being Sell), reflecting market confidence in the company's future performance.
Evaluating Nike's Valuation with GuruFocus Metrics
According to GuruFocus estimates, Nike's GF Value in one year is projected at $96.02. This suggests a remarkable potential upside of 66.64% from its current price. The GF Value is an authoritative gauge of a stock's fair market value, determined by historical trading multiples, past business growth, and anticipated future performance. A detailed analysis is available on the Nike Inc (NKE, Financial) Summary page.
