Nike will exit the S&P 100 Index on September 21 after a significant stock price decline.

Under the leadership of CEO Elliott Hill, the company is currently undergoing a turnaround plan. While the sportswear division will introduce more than a dozen new footwear styles in the second half of fiscal year 2027, some investors have expressed a lack of patience regarding the timeline for the turnaround. The company's fiscal Q1 2027 revenue slipped 1.1% year over year to $10.97 billion. While the headline EPS beat of $0.72 versus a $0.13 consensus was notable, a one-time $986 million IEEPA tariff recovery added $0.52 per share. Without this recovery, the EPS was $0.20. The company's stock currently trades at $38.40, which is well below the average analyst price target of $50.46. However, some analysts, such as Tom Nikic of Needham, maintain a Buy rating and a $75 price target, implying a significant upside from current levels.