Nike is trading at $80.47, and the stock is up 5.2% since the company reported its fourth-quarter figures in June, where both revenue and EPS exceeded estimates. This will be the first set of figures from Nike since the world cup and after it ramped up its ‘demand creation expense’ by 36% in the build up to the competition.
German rival Adidas has long been considered the world’s top football brand, but Nike is closing the gap by signing six of the most marketable footballers in the world, including Cristiano Ronaldo who tops the ranking.
Equity analysts are very bullish on Nike. Out of the 31 recommendations 20 are buys and 11 are holds.
The 50-day moving average is providing support at $78.94. If the World Cup had a big impact on Nike's sales then a good set of results could push the stock to $82.60.