Nike ($NKE) is bouncing back - in plenty of ways.
After a rocky first half to 2020, the Oregon sneaker maker's stock is on the verge of bouncing back to break-even on the year. One of Nike's bulls is Piper Jaffray's Erinn Sandler.
"[S]he thinks Nike is positioned to see both a quicker and stronger recovery than other brands as pandemic worries recede, thanks to online sales and the strong athleisure trend in retail," Barron's reported.
Now, job postings are bouncing back. Nike has added a few dozen more, although, it's far off the ordinary range of 1,000 to 1,500 open positions, based on historical data (not shown)
On top of the rosy outlook with Sandler, UBS' Evidence Lab recently boosted expectations for Nike's price target by 7%, calling the stock a buy and telling investors to expect a possible surprise to the upside in its next earnings report.
Our alternative data previously highlighted Nike's soaring Facebook Talking About Count, spurred on by its repeated stances taken against police brutality.
Finally, we close out with Nike's production and stores map. Regardless of how long it takes for individual states' and countries' economy to come online, Nike's international footprint means it will likely have at least some of its businesses online at just about every point in 2020. Further, because its app (which saw a 24% increase in ratings submitted via the Apple Store this year alone) is well-engrained with consumers, Nike's online presence - as noted by Sandler - will give it a boost too.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales, and app ratings - and creates data sets that measure factors like hiring, revenue, and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.
