Goldman Sachs cut Nike target to USD 38.00 as Nike stock trades above EUR 30.67

Published on 10/08/2026 at 16:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fiscal first-quarter revenue fell 4.00 percent to USD 11.21 billion. Nike stock costs EUR 30.80 on October 8, 2026 after EUR 30.67, plus 0.42 percent.

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Nike stock (ISIN US6541061031) was trading at EUR 30.80 at Lang & Schwarz on October 8, 2026 at 4:05 p.m. CEST, above the prior close of EUR 30.67. According to FinanzNachrichten on September 25, 2026, Goldman Sachs cut its Nike target from USD 42.00 to USD 38.00 and kept a Neutral rating.

Three dates explain the reset

On September 15, 2026, Nike increased its board to 12 directors and appointed Alexandre Arnault, according to the SEC. On September 25, 2026, Goldman Sachs reduced its target by USD 4.00, from USD 42.00 to USD 38.00, according to FinanzNachrichten. On October 1, 2026, Nike reported fiscal first-quarter revenue of USD 11.21 billion, down 4.00 percent from the prior year, in a release carried by Business Wire.

What does the reset mean for margins?

The latest quarter gives the board change a demanding operating backdrop. Nike's gross margin expanded to 42.80 percent from 42.20 percent in the fiscal first quarter ended August 31, 2026, a 60-basis-point improvement, while diluted earnings per share was USD 0.48, according to Business Wire. The improvement in gross margin contrasts with the 4.00 percent revenue decline and leaves product demand, especially in Greater China, as the central execution issue.

NIKE Brand revenue fell 4.00 percent to USD 10.95 billion in the same period. Greater China revenue dropped 22.00 percent to USD 1.18 billion, while North America revenue increased 2.00 percent to USD 5.13 billion, according to the same October 1 release from Business Wire. That regional split explains why cost control alone does not resolve the broader turnaround challenge.

Next date and stock context

The next dated event in the available calendar is an earnings release listed for October 29, 2026, according to MarketScreener. Nike's current market capitalization is USD 51.2 billion, while its 52-week range is USD 31.97 to USD 70.44 as of October 8, 2026. The NYSE-listed company trades under ticker NKE, and its consumer-cyclical business is concentrated in athletic footwear and accessories.

The Lang & Schwarz quote stood at EUR 30.80 on October 8, 2026 at 4:05 p.m. CEST, plus 0.42 percent versus the EUR 30.67 prior close of October 7, 2026. The further course of trading is shown by the continuously updated real-time quote of Nike stock.