On Tuesday, May 7, 2024, Telsey Advisory upgraded its rating on ONON:NYSE to Outperform, maintaining a hold position. At the time of the announcement, ONON was trading at approximately $34.18. This adjustment reflects Telsey Advisory’s positive outlook on ONON, as detailed in a report by Benzinga, highlighting the company’s potential benefits from the pace of product introductions and margin expansion in the first quarter.
TD Cowen has raised its price target on On Holding (ONON) stock to $38, indicating strong momentum in new customer acquisition. This adjustment comes as On Holding’s stock has seen an 84% increase since its low in 2022, largely driven by the success of its Cloudmonster running shoes. Currently, the stock is trading around $31, having reached a 52-week high of $37.08 last year. Analyst John Kernan of TD Cowen believes that the company’s momentum will propel the stock back to these highs and potentially beyond.
The optimism surrounding On Holding is further supported by its recent performance, with the company reporting a 31% revenue growth on a constant-currency basis in the fourth quarter. On Holding is expected to release its first-quarter 2024 results on May 14, with management projecting at least a 30% year-over-year revenue growth for the full year. TD Cowen’s analysis, based on internal checks on customer acquisition and retention, suggests that On Holding is poised for continued growth, making the stock a potential buy for investors.
On Holding AG (ONON) is currently trading at $34.01 on the NYSE, experiencing a slight decrease of $0.03 or -0.0881% from its previous close. Today’s trading session saw the stock fluctuating between a low of $33.66 and a high of $34.93. Over the past year, ONON has reached a peak of $37.08 and a low of $23.41. The company boasts a market capitalization of approximately $10.84 billion, with a trading volume of 4,238,516 shares.