For On Holding AG [ONON], Analyst sees a drop to $28. What next?

On Holding AG [NYSE: ONON] price surged by 0.09 percent to reach at $0.02. The company report on January 25, 2023 that On Bolsters Triathlon Team With Superstar Signings.

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Olympic Champion Kristian Blummenfelt (NOR), Ironman World Champion Chelsea Sodaro (USA), and Ironman 70.3 World Championship silver medalist Paula Findlay (CAN) join the Swiss sportswear brand’s athlete roster.

After the phenomenal success of Gustav Iden at the 2022 Ironman World Championships, On further reinforces its triathlon team with three significant signings. Olympic Champion Kristian Blummenfelt, reigning Ironman World Champion Chelsea Sodaro and 2022 Ironman 70.3 World Championship silver medalist Paula Findlay join the impressive roster of world class triathletes competing in On products.

A sum of 2327678 shares traded at recent session while its average daily volume was at 2.23M shares. On Holding AG shares reached a high of $22.77 and dropped to a low of $22.03 until finishing in the latest session at $22.23.

The one-year ONON stock forecast points to a potential upside of 15.12. The average equity rating for ONON stock is currently 2.20, trading closer to a bullish pattern in the stock market.

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 $26.19 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.

Goldman have made an estimate for On Holding AG shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 21, 2022. While these analysts kept the previous recommendation, Exane BNP Paribas raised their target price to Outperform. The new note on the price target was released on September 21, 2022, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $28, while Piper Sandler analysts kept a Overweight rating on ONON stock.

The Average True Range (ATR) for On Holding AG is set at 0.97, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 5.99. The Price to Book ratio for the last quarter was 6.72, with the Price to Cash per share for the same quarter was set at 1.86.

ONON Stock Performance Analysis:

On Holding AG [ONON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.91. With this latest performance, ONON shares gained by 36.55% in over the last four-week period, additionally plugging by 16.33% over the last 6 months – not to mention a drop of -12.58% in the past year of trading.

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 70.96, with the RSI for the last a single of trading hit 73.98, and the three-weeks RSI is set at 67.08 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 18.61, while it was recorded at 21.93 for the last single week of trading, and 19.58 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 3.90 and a Current Ratio set at 5.30.

On Holding AG [ONON] Insider Position Details

There are presently around $2,379 million, or 39.60% of ONON stock, in the hands of institutional investors. The top three institutional holders of ONON stocks are: FMR LLC with ownership of 27,996,653, which is approximately -0.009% of the company’s market cap and around 37.39% of the total institutional ownership; MACQUARIE GROUP LTD, holding 9,084,032 shares of the stock with an approximate value of $201.94 million in ONON stocks shares; and DURABLE CAPITAL PARTNERS LP, currently with $185.03 million in ONON stock with ownership of nearly 18.82% of the company’s market capitalization.

Positions in On Holding AG stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 98 institutional holders increased their position in On Holding AG [NYSE:ONON] by around 22,794,147 shares. Additionally, 63 investors decreased positions by around 25,329,425 shares, while 32 investors held positions by with 58,893,607 shares. The mentioned changes placed institutional holdings at 107,017,179 shares, according to the latest SEC report filing. ONON stock had 43 new institutional investments in for a total of 10,416,276 shares, while 21 institutional investors sold positions of 2,939,828 shares during the same period.


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