10 Robinhood Stocks with High Potential

7. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 82

Stock Upside Potential: 41.01%

Nike Inc. (NYSE:NKE) is one of the top Robinhood stocks with high potential. On March 19, UBS reiterated a Neutral rating on Nike Inc. (NYSE:NKE) but cut the price target to $58 from $62. The price cut is in response to the company’s weak global sales momentum. Consequently, it expects the company to deliver third-quarter earnings in line with estimates.

On the other hand, UBS expects Nike to deliver fourth-quarter earnings per share in the range of 3 cents to 18 cents. The EPS guidance would be below consensus estimates of 23 cents per share. In addition, it does not expect the company’s fourth-quarter outlook to show any meaningful quarter-over-quarter improvement in sales growth. It expects the company to project sales growth decline in the low single digits, slightly better than its estimate of 3% decline.

Earlier on March 11, Barclays upgraded Nike to Overweight and hiked the price target to $73 from $64. The upgrade underscores the research firm’s confidence about the company’s turnaround following the recent slump. According to Barclays, investor sentiment has reached peak skepticism about the company’s financials, hitting a fundamental bottom. Therefore, recent operational progress, financial inflections, and management’s disciplined action could trigger a reset.

Nike Inc. (NYSE:NKE) designs, develops, markets, and distributes athletic footwear, apparel, equipment, and accessories for sports and fitness. Based in Beaverton, Oregon, it is a global leader in athletic innovation, creating products for basketball, running, football, and golf. The company operates under a mission to bring innovation to every athlete.