Nike Gets A Vote Of Confidence From Vetr Crowd

The Vetr crowd on Thursday upgraded its rating for Nike, Inc. NKE from 4 stars (Buy) issued six days ago, to 4.5 stars (Strong Buy). Crowd sentiment at the time of the upgrade remained largely positive, with 92 percent of Vetr user ratings bullish.

Shares of Nike got hit hard to the tune of 12 percent on its latest earnings report, which saw the sneaker and sportswear giant deliver EPS of 60 cents versus a 50-cent estimate and slightly edge out revenue estimates. This came on the heels of reports of weak sales of Nike footwear from the likes of Foot Locker, Inc. FL and Finish Line Inc FINL.

At market close on Thursday, Nike was trading at $52.39 a share.

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Currently, the Vetr crowd's average price target on Nike is up at $58.87, which is still below the average analyst price target of $60.73. Less than 2 percent of Vetr users are holding NKE in their watch-lists.