Bernstein slashes price target on On Holding AG [ONON] – find out why.

On Holding AG [NYSE: ONON] plunged by -$0.73 during the normal trading session on while it closed the day at $37.20.

On Holding AG stock has also loss -2.18% of its value over the past 7 days. However, ONON stock has inclined by 14.22% in the 3 months of the year. Over the past six months meanwhile, it has gained 40.01% and gained 37.93% year-on date.

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The market cap for ONON stock reached $11.31 billion, with 284.22 million shares outstanding and 197.43 million shares in the current float. Compared to the average trading volume of 4.91M shares, ONON reached a trading volume of 3686209 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $43.91 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 1.60. 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.

Bernstein have made an estimate for On Holding AG shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 11, 2024. While these analysts kept the previous recommendation, Telsey Advisory Group raised their target price from $40 to $47. The new note on the price target was released on June 07, 2024, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise from $34 to $46, while Truist kept a Buy rating on ONON stock. On May 15, 2024, analysts increased their price target for ONON shares from 37 to 40.

The Average True Range (ATR) for On Holding AG is set at 1.53, with the Price to Sales ratio for ONON stock in the period of the last 12 months amounting to 5.33. The Price to Book ratio for the last quarter was 9.05, with the Price to Cash per share for the same quarter was set at 2.13. Price to Free Cash Flow for ONON in the course of the last twelve months was 38.07 with Quick ratio for the last quarter at 2.43.

ONON stock trade performance evaluation

On Holding AG [ONON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.18. With this latest performance, ONON shares dropped by -11.85% in over the last four-week period, additionally plugging by 40.01% over the last 6 months – not to mention a rise of 18.36% 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 40.04, with the RSI for the last a single of trading hit 34.86, and the three-weeks RSI is set at 44.78 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 38.09, while it was recorded at 37.24 for the last single week of trading, and 31.48 for the last 200 days.

On Holding AG [ONON]: An insightful look at the core fundamentals

On Holding AG’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.43 and a Current Ratio set at 3.32.

On Holding AG [ONON]: Institutional Ownership

The top three institutional holders of ONON stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.5034%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $178.43 billion in ONON stocks shares; and BERKSHIRE HATHAWAY INC, currently with $135.36 billion in ONON stock with ownership which is approximately 5.1238%.