Nike, Inc. shares have recently experienced an upward movement with a return of higher volumes and volatility. This technical chart pattern suggests a continuation of the upward movement. Investors should benefit from the breakout of the $ 100.3 level to target the $ 108.
The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.
Its core activity has a significant growth potential and sales are expected to surge, according to Standard & Poor's' forecast. Indeed, those may increase by 29% by 2023.
Analysts covering this company mostly recommend stock overweighting or purchase.
The share is close to its long-term resistance in weekly data. Therefore, the potential should be limited. However, a further bullish movement when crossing this resistance will be a positive signal.
The stock is close to a major daily resistance at USD 104.29, which should be gotten rid of so as to gain new appreciation potential.
The company's enterprise value to sales, at 3.97 times its current sales, is high.
The firm trades with high earnings multiples: 42.24 times its 2021 earnings per share.
The firm pays small or no dividend to shareholders. For that reason, it is not a yield company.
The sales outlook for the group was lowered in the last twelve months. This change in forecast points out a decline in activity as well as pessimistic analyses of the company.
For the last twelve months, the trend in sales revisions has been clearly going down, which emphasizes downgraded expectations from the analysts.
For the last few months, analysts have been revising downwards their earnings forecast.
For the past year, analysts have significantly revised downwards their profit estimates.
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