Nike Q4 2021 earnings recap
$Nike Inc(NKE.US)$ shares surge as much as 15% to an intraday record high after the sportswear maker reported better-than-expected fourth-quarter results on Thursday and forecast that annual revenue will surpass $50b for the first time. Several analysts increased their price targets on the stock.
Nike competitors, Foot Locker and Under Armour, are each up more than 4%.
Ratings
BMO Capital Markets, Simeon Siegel (outperform)
Nike's 4Q beat was broad based, with sales topping estimates in all regions apart from Greater China
The multiyear growth outlook is "impressive"
PT raised to $174 from $160
Jefferies, Randal Konik (buy)
The 4Q results showed the strength of Nike's brand, with consumer spending not sensitive to prices
A continued emphasis on the digital channel should lead to market share gains
PT increased to $200 from $192
BlackBerry Q1 2022 earnings recap
$BlackBerry Ltd(BB.US)$ analysts say that while its first-quarter results are basically in line with consensus, significant gains in the stock price recently are 「disconnected」 from fundamentals. Canaccord, CIBC, and TD Securities downgraded the stock, citing its valuation. Shares fall as much as 5.2%, touching the lowest since the beginning of June.
Ratings
RBC (underperform, PT $7.50)
Analyst Paul Treiber says higher licensing IP revenue saw results "effectively in line"with RBC and consensus expectations
Core software "continues to struggle," while IoT is making some progress despite industry headwinds
However, there is a "valuation-fundamentals disconnect" with significant rally since 4Q results
Pending patent sale could be a catalyst, although does appear sale is reflected in valuation assuming business is worth about $1b
Canaccord (sell vs hold, PT $10)
Results seen as in line, with software and services slightly below Canaccord estimates and licensing revenue slightly above, analyst T Michael Walkley writes
A deal to sell licensing business could unlock value and provide capital uplift to drive software and services growth
Management appears to have credible long-term strategy, but await more proof on execution
"Sharp appreciation" of shares to above Canaccord's price target prompts cut to sell
Click here to check out: Earnings Calendar for June; Earnings preview; Earnings Highlights
Source: Bloomberg
Editor: Mia
Comment(1)
Love Nike. first investment soon as account gets approved.... 💪
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