Vetr Top Raters Downgrade Nike, But 74% Still Bullish

Shares of Nike Inc (NYSE: NKE) have gained nearly 30 percent over the past year, but appear to have stalled since the start of 2016 having gained just 0.3 percent since the start of the new year. Nike's short-term weakness likely promoted Vetr top raters to downgrade the name.

Vetr top raters downgraded Nike's stock rating to 2.5-stars out of a possible 5-stars. In fact, shares of Nike have fallen to $62.38 since the prior rating of 3.0-stars was issued just seven days ago.

Related Link: Related link: Here's how crowdsourced ratings can beat the market.

Despite a downgrade to a Sell rating, 74 percent of the crowd's ratings are bullish. On the other hand, the crowd sourced price target of $59.49 implies a potential downside of nearly 6 percent.