Goldman Sachs analyst Richard Edwards has maintained their bullish stance on ONON stock, giving a Buy rating today.
Richard Edwards has given his Buy rating due to a combination of factors including On Holding AG’s strong financial performance and promising future outlook. In the recent financial results, the company reported a substantial increase in constant currency sales and an impressive adjusted EBITDA. The group’s gross margin also saw a significant year-over-year improvement, which contributed to a healthy adjusted EBITDA margin. Additionally, the company demonstrated a solid growth trajectory in direct-to-consumer and wholesale channels.
Looking ahead, Edwards finds the company’s guidance for the upcoming fiscal year encouraging, with expectations of continued sales growth and sustained gross margins. The introduction of a new EBITDA margin forecast further underlines the company’s profitability prospects. Moreover, On Holding AG’s long-term targets, including a notable compound annual growth rate for net sales and an improved adjusted EBITDA margin, provide a strong case for the optimism reflected in the Buy rating. Edwards’s assessment suggests confidence in the company’s strategy and execution, justifying the maintained price target.
According to TipRanks, Edwards is an analyst with an average return of -10.4% and a 38.72% success rate. Edwards covers the Consumer Cyclical sector, focusing on stocks such as PUMA SE NPV, PUMA, and On Holding AG.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $36.00 price target.
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On Holding AG (ONON) Company Description:
On Holding AG is a premium performance sports brand rooted in technology, design, and impact. Its shoe, apparel, and accessories products are designed primarily for athletic use, casual, or leisure purposes. It does not manufacture the products or the raw materials and rely instead on third-party suppliers and contract manufacturers.
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