Citigroup cuts target for Nike stock as Nike launches Pace plan

Published on 10/21/2026 at 10:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Citigroup cut its target from USD 39.00 to USD 32.00 on October 2, 2026. Nike stock costs EUR 33.78 on October 21, 2026, 0.66 percent above Xetra close.

Analyst target and quarterly results

Citigroup cut its Nike target from USD 39.00 to USD 32.00 on October 2, 2026.
Nike reported fiscal first-quarter revenue of USD 11.21 billion for the period ended August 31, 2026.
Nike stock trades at EUR 33.78 at 10:46 a.m. CEST at Lang & Schwarz on October 21, 2026, 0.66 percent above the Xetra close of October 20, 2026.

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Nike (ISIN US6541061031) saw Citigroup cut its price target from USD 39.00 to USD 32.00 on October 2, 2026, according to MarketBeat. The cut followed Nike's fiscal first-quarter report and leaves the analyst debate centered on a difficult recovery path.

Results expose the pressure points

NIKE, Inc. reported fiscal first-quarter revenue of USD 11.21 billion for the period ended August 31, 2026, down 4.00 percent from USD 11.72 billion a year earlier. The company also reported diluted earnings per share of USD 0.48, while gross margin expanded 60 basis points to 42.80 percent, according to Nike.

The regional split explains the cautious targets. Greater China revenue fell 22.00 percent to USD 1.18 billion, while North America revenue rose 2.00 percent to USD 5.13 billion in the same quarter. Nike Direct revenue declined 8.00 percent to USD 4.14 billion, a sharper drop than wholesale revenue, which fell 1.00 percent to USD 6.80 billion.

What does the Pace plan change?

Nike introduced Pace on October 1, 2026, as an operating-model transformation covering its supply chain, geographic structure and organization. The company expects approximately USD 2.50 billion in cumulative savings through fiscal 2031, alongside approximately USD 1.00 billion in pretax charges, according to Nike. Fiscal 2027 revenue is expected to decline by a high-single-digit percentage, while adjusted earnings per share is expected at USD 1.15 to USD 1.35.

Three dates that shaped Nike stock

On September 16, 2026, Alexandre Arnault joined Nike's board. On October 1, 2026, Nike reported USD 11.21 billion in fiscal first-quarter revenue and announced Pace. On October 2, 2026, Citigroup cut its target from USD 39.00 to USD 32.00, as reported by MarketBeat.

The next substantiated company date is October 29, 2026, when the archived fiscal first-quarter webcast remains available through the investor-relations site.

Stock valuation and trading level

Nike's market capitalization was USD 56.3 billion on October 20, 2026. Its NYSE quote was last at USD 37.88 on October 20, 2026 at 4:00 p.m. ET, against a 52-week range of USD 31.97 to USD 70.44. The euro quote points to a market still weighing cost savings against weak sales in China and digital channels.

Euro quote after the Xetra close

Nike stock was trading intraday at EUR 33.78 at Lang & Schwarz on October 21, 2026 at 10:46 a.m. CEST, plus 0.66 percent versus the Xetra close of October 20, 2026 at EUR 33.56.

The further course of trading is shown by the continuously updated real-time quote of Nike stock.