For On Holding AG [ONON], Analyst sees a rise to $16. What next?



On Holding AG [NYSE: ONON] stock went on a downward path that fall over -5.05% on Thursday, amounting to a one-week price decrease of less than -8.62%.

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The one-year On Holding AG stock forecast points to a potential upside of 44.4. The average equity rating for ONON stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $5.20 billion, with 315.39 million shares outstanding and 172.51 million shares in the current float. Compared to the average trading volume of 2.68M shares, ONON stock reached a trading volume of 2284401 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $29.75 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 2.20. 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.

BofA Securities have made an estimate for On Holding AG shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on May 09, 2022. While these analysts kept the previous recommendation, Berenberg raised their target price to Buy. The new note on the price target was released on April 19, 2022, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $40, while UBS analysts kept a Buy rating on ONON stock.

The Average True Range (ATR) for On Holding AG is set at 1.06, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 5.87. The Price to Book ratio for the last quarter was 5.78, with the Price to Cash per share for the same quarter was set at 2.17.

ONON Stock Performance Analysis:

On Holding AG [ONON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -8.62. With this latest performance, ONON shares dropped by -13.18% in over the last four-week period, additionally sinking by -48.51% 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 36.59, with the RSI for the last a single of trading hit 32.54, and the three-weeks RSI is set at 38.88 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 19.55, while it was recorded at 17.36 for the last single week of trading, and 27.97 for the last 200 days.

Insight into On Holding AG Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and On Holding AG [ONON] shares currently have an operating margin of -19.47 and a Gross Margin at +55.43. On Holding AG’s Net Margin is presently recorded at -23.49.

Return on Equity for this stock declined to -30.82, with Return on Assets sitting at -20.65.

On Holding AG’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.60 and a Current Ratio set at 4.30.

On Holding AG [ONON] Insider Position Details

There are presently around $1,526 million, or 34.30% of ONON stock, in the hands of institutional investors. The top three institutional holders of ONON stocks are: DURABLE CAPITAL PARTNERS LP with ownership of 11,028,390, which is approximately 114.504% of the company’s market cap and around 37.74% of the total institutional ownership; FMR LLC, holding 10,808,066 shares of the stock with an approximate value of $178.76 million in ONON stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $163.48 million in ONON stock with ownership of nearly 158.611% of the company’s market capitalization.

Positions in On Holding AG stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 98 institutional holders increased their position in On Holding AG [NYSE:ONON] by around 40,405,338 shares. Additionally, 59 investors decreased positions by around 19,222,155 shares, while 16 investors held positions by with 32,643,319 shares. The mentioned changes placed institutional holdings at 92,270,812 shares, according to the latest SEC report filing. ONON stock had 40 new institutional investments in for a total of 10,620,049 shares, while 41 institutional investors sold positions of 9,792,487 shares during the same period.