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Beaverton Today
By the People, for the People
Nike Stock Hits 9-Year Low Ahead of Q3 Earnings
Experts say 'maybe there is hope' for a turnaround, but Nike faces headwinds in China and North America
Mar. 30, 2026 at 4:22pm
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As Nike stock hits a 9-year low, the brand's premium sneakers sit alone in a stark studio setting, symbolizing the company's struggle to regain its footing in a competitive market.Beaverton TodayNike stock has hit a new multi-year low of $51.20 ahead of the company's Q3 earnings report, the lowest level since October 2017. Analysts expect Nike to report earnings per share of 28 cents, down from 54 cents a year ago, and revenue of $11.23 billion, down slightly from $11.27 billion. Experts say Nike has failed to show a prolonged turnaround, with the stock down 19.7% year-to-date, though there is hope the company could beat expectations and rally the stock.
Why it matters
Nike's performance is closely watched as a bellwether for the broader athletic apparel and footwear industry. The company's struggles with declining sales in China and increased competition in North America have weighed on the stock, which is now trading at levels not seen since 2017. A weak Q3 report could further erode investor confidence and put pressure on Nike's new CEO to turn the company around.
The details
Analysts have been lowering their price targets on Nike ahead of the earnings report, with BTIG maintaining a Buy rating but lowering the target from $100 to $90. The analyst cited progress in North America but warned of continued challenges in China and a softer overall market. Other analysts have downgraded Nike or lowered their price targets, citing factors like strong competition and the potential for the stock to fall below $50 if the company fails to break its current downtrend.
- Nike stock hit a new 9-year low of $51.20 on March 28, 2026.
- Nike is scheduled to report Q3 2026 earnings on March 30, 2026.
The players
Nike
A leading global athletic apparel and footwear company headquartered in Beaverton, Oregon.
Elliot Hill
The new CEO of Nike, appointed in 2025 to help turn the company around.
Jay Woods
Chief Market Strategist at Freedom Capital Markets, who has been closely watching Nike's stock performance.
Robert Drbul
An analyst at BTIG who maintained a Buy rating on Nike but lowered the price target.
What they’re saying
“Shares of the Dow component are lower by -19.7% year-to-date and have failed to bounce under new CEO Elliot Hill.”
— Jay Woods, Chief Market Strategist, Freedom Capital Markets
“Maybe there is hope.”
— Jay Woods, Chief Market Strategist, Freedom Capital Markets
“Technically, we have a textbook downtrend over multiple time frames.”
— Jay Woods, Chief Market Strategist, Freedom Capital Markets
“Nike has made some progress in North America, and management is building momentum for the company, but there remains work to be done.”
— Robert Drbul, Analyst, BTIG
What’s next
Investors will be closely watching Nike's Q3 earnings report on March 30, 2026 to see if the company can beat expectations and show signs of a turnaround. Commentary on China, tariffs, and layoffs will also be closely scrutinized.
The takeaway
Nike's struggles with declining sales in China and increased competition in North America have weighed heavily on the stock, which has hit a 9-year low. While some experts see 'hope' for a turnaround, Nike faces an uphill battle to regain investor confidence and break out of its current downtrend.
