Nike falls after Needham downgrades to 'hold'

Shares of footwear giant Nike NKE.N down about 1% at $62.55 premarket

Needham downgrades stock to "hold" from "buy"; says NKE turnaround is progressing slower than expected

Adds increased shipping to North American wholesalers could cause "near-term challenges" given "brand heat" is insufficient to match inventory push

"Challenges in China and the Converse brand appear very intense and the timeline to get those businesses back on track is uncertain" - Needham

24 of 40 brokerages rate stock "buy" or higher, 14 "hold" and 2 "sell" or lower; median PT is $74 - data compiled by LSEG

Stock fell ~16% in 2025