why On Holding AG [ONON] is a Good Choice for Investors After New Price Target of $39.00

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On Holding AG [NYSE: ONON] jumped around 0.09 points on Thursday, while shares priced at $26.14 at the close of the session, up 0.35%. The company report on March 18, 2022 that On Announces Fourth Quarter and Full Year Results, and the Filing of Its Annual Report on Form 20-F for 2021.

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On experiences very strong consumer demand across all regions, channels, and product categories and delivers another record year with net sales of CHF 724.6 million, a gross profit margin jump to 59.4% and an adjusted EBITDA margin of 13.3%. This reflects On’s commitment to manage the company with a focus on long-term growth and profitability.

Net sales increased by 53.7% in the fourth quarter of 2021 and by 70.4% in fiscal year 2021, with the direct-to-consumer business growing 76.7% in the fourth quarter and Wholesale growing 39.3%. This validates the strength of On’s multi-channel distribution, where wholesale and DTC channels are highly complementary.

On Holding AG stock is now -30.86% down from its year-to-date (YTD) trading value. ONON Stock saw the intraday high of $26.60 and lowest of $25.38 per share. The company’s 52-week high price is 55.87, which means current price is +32.35% above from all time high which was touched on 01/03/22.

Compared to the average trading volume of 2.55M shares, ONON reached a trading volume of 3859807 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about On Holding AG [ONON]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ONON shares is $39.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ONON stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Berenberg have made an estimate for On Holding AG shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 19, 2022. While these analysts kept the previous recommendation, UBS raised their target price to Buy. The new note on the price target was released on October 11, 2021, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $36, while Stifel analysts kept a Buy rating on ONON stock.

The Average True Range (ATR) for On Holding AG is set at 1.51, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 10.45. The Price to Book ratio for the last quarter was 7.80, with the Price to Cash per share for the same quarter was set at 2.36.

How has ONON stock performed recently?

On Holding AG [ONON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.48. With this latest performance, ONON shares dropped by -5.80% in over the last four-week period, additionally sinking by -16.65% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONON stock in for the last two-week period is set at 55.53, with the RSI for the last a single of trading hit 60.56, and the three-weeks RSI is set at 52.51 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 24.89, while it was recorded at 25.51 for the last single week of trading.

On Holding AG [ONON]: Deeper insight into the fundamentals

On Holding AG’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.10 and a Current Ratio set at 4.70.

Insider trade positions for On Holding AG [ONON]

There are presently around $2,009 million, or 26.30% of ONON stock, in the hands of institutional investors. The top three institutional holders of ONON stocks are: HHLR ADVISORS, LTD. with ownership of 15,973,750, which is approximately 0% of the company’s market cap and around 19.83% of the total institutional ownership; BOND CAPITAL MANAGEMENT, LP, holding 5,628,750 shares of the stock with an approximate value of $146.63 million in ONON stocks shares; and LUXOR CAPITAL GROUP, LP, currently with $143.57 million in ONON stock with ownership of nearly -12.207% of the company’s market capitalization.

Positions in On Holding AG stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 95 institutional holders increased their position in On Holding AG [NYSE:ONON] by around 23,580,505 shares. Additionally, 68 investors decreased positions by around 63,935,123 shares, while 12 investors held positions by with 10,392,870 shares. The mentioned changes placed institutional holdings at 77,122,758 shares, according to the latest SEC report filing. ONON stock had 58 new institutional investments in for a total of 14,573,794 shares, while 38 institutional investors sold positions of 4,346,172 shares during the same period.