15 Best Blue Chip Stocks to Buy Now

10. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 82

NIKE, Inc. (NYSE:NKE) is engaged in the designing, marketing, and distribution of athletic footwear, apparel, equipment, and accessories and services for sports and fitness activities.

On April 10, Piper Sandler downgraded NIKE, Inc. (NYSE:NKE) from ‘Overweight’ to ‘Neutral’, while also cutting its price target on the stock from $60 to $50. That said, the trimmed target still reflects an upside of over 17% from the current levels.

Piper Sandler expects the strong industry performance to continue, but warned that NIKE, Inc. (NYSE:NKE) is only a quarter away from lapping big gains in running. Moreover, the analyst firm expressed concerns over athleisure, which it believes is ‘becoming too saturated across the industry, with frequency metrics at peakish levels’.

Piper also noted that NIKE, Inc. (NYSE:NKE) lacks enough innovation to offset the declining volumes in its classics division. While the firm has lowered its valuation of the sports equipment company, it believes that the stock is still not cheap.

NIKE, Inc. (NYSE:NKE) reported its Q3 2026 results on March 31, with the company beating estimates in both earnings and revenue. That said, the firm expects its Q4 revenue to be down 2% to 4%, as it targets finishing ‘Win Now’ actions by year-end.