Despite Nike's (NYSE: NKE) stock price surging 30% over the last 12 months, 2020 was a mixed bag for the swoosh. Store closures weighed on sales, but investors have high expectations for Nike's digital business, which has tremendous momentum right now.
While the stock trades at a steep price tag of 44 times forward earnings estimates, there are three catalysts on the horizon that could justify the lofty share price.
In recent earnings reports, management has emphasized that the consumer shift to digital is here to stay. That appears to be the case after a strong fiscal 2021 second-quarter earnings report in December.
Source Fool.com