Momentum is strong as Nike stock brushes up against record highs, and Donahoe's prior positions set him up to build on the company's online efforts, Wedbush said.
"Mr. Donahoe appears to have strong leadership, digital, and NKE experience as Mr. Parker remaining helps ensure a smooth transition," analysts Christopher Svezia and Paul Nawalany wrote.
The analysts also praised Donahoe's work to improve Nike's culture. They cited the sportswear company's statements on social issues like climate change and gender inequality, as well as inclusivity efforts like plus-sizing, the Nike Pro Hijab, and para-sports.
Despite Parker setting a high bar, Donahoe has the résumé to keep shareholders happy and improve on the company's successful new ventures, the analysts said.
"In the end, though Mr. Donahoe has large sneakers to fill in taking over this large, globally iconic brand, he appears to be a formidable choice to lead NKE and may help further accelerate its digital and general market dominance," they wrote.
Wedbush maintains an "outperform" rating and a $100 price target.