Is On Holding Stock Worth Investing In Acquisition?
On Holding Stock Predicted to Reach $38: Is It Time to Buy?
On's Cloudmonster franchise is gaining appeal in the running shoe market. Since bottoming out in 2022, On Holding (NYSE: ONON) stock has climbed 84%, and the popularity of On's Cloudmonster running shoes had a lot to do with those returns.
As of this writing, the stock is sitting around $31 after hitting a 52-week high of $37.08 last year. But TD Cowen analyst John Kernan believes the company's momentum will send the stock back to those previous highs soon enough. The firm recently slightly raised its price target from $36 to $38 and maintained a buy rating on the shares.
What's so great about On Holding?
- Revenue Growth: On delivered revenue growth of 31% on a constant-currency basis in the fourth quarter, with further growth expected.
- International Expansion: On is set to open 100 new brand stores to build global brand awareness, particularly targeting the Asia-Pacific region.
- Product Success: The Cloudmonster franchise drove strong sales in Q4 2023, indicating a strong market demand for On Holding's products.
Should you invest $1,000 in On Holding right now?
Consider the growth potential and performance of the company in comparison to other investment options.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.