Nike Inc (NYSE:NKE) reported better-than-expected financial results for the third quarter of fiscal 2025 on Thursday.

Nike reported third-quarter revenue of $11.27 billion, beating analyst estimates of $11.01 billion. The athletic footwear and apparel company reported third-quarter earnings of 54 cents per share, beating analyst estimates of 28 cents per share, according to Benzinga Pro.

"The progress we made against the ‘Win Now' strategic priorities we committed to 90 days ago reinforces my confidence that we are on the right path," said Elliott Hill, president and CEO of Nike. "What's encouraging is NIKE made an impact this quarter leading with sport — through athlete storytelling, performance products and big sport moments."

Nike shares fell 8.4% to trade at $65.81 on Friday.

These analysts made changes to their price targets on Nike following earnings announcement.

• Morgan Stanley analyst Alex Straton maintained Nike with an Equal-Weight rating and lowered the price target from $72 to $70.
• Needham analyst Tom Nikic maintained Nike with a Buy and lowered the price target from $80 to $75.
• Baird analyst Jonathan Komp maintained the stock with an Outperform rating and lowered the price target from $105 to $99.
• Wells Fargo analyst Ike Boruchow maintained Nike with an Overweight rating and lowered the price target from $90 to $85.
• Truist Securities analyst Joseph Civello maintained the stock with a Buy and lowered the price target from $90 to $82.

Considering buying NKE stock? Here’s what analysts think: