On Holding AG Surpasses Expectations and Raises Profitability Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 12 2024
0mins
Source: Business Insider
On Holding AG's stock rose by 5.03% as it crossed above the 5-day SMA, reflecting positive investor sentiment following strong first-quarter results.
The company reported a revenue of 831.9 million Swiss francs, exceeding analyst expectations and indicating robust market performance. Additionally, On raised its profitability outlook, expecting a gross profit margin of at least 64.5% by 2026, despite challenges in direct sales. This positive news comes amid a broader market trend, with the Nasdaq-100 and S&P 500 also showing gains.
The strong performance and improved outlook may bolster investor confidence, suggesting a positive trajectory for On Holding AG as it navigates competitive challenges in the market.
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Analyst Views on ONON
Wall Street analysts forecast ONON stock price to rise
21 Analyst Rating
18 Buy
2 Hold
1 Sell
Strong Buy
Current: 39.750
Low
30.00
Averages
60.79
High
85.00
Current: 39.750
Low
30.00
Averages
60.79
High
85.00
About ONON
On Holding AG is a Switzerland-based company active in athletic sports accesories industry. The Company provides footwear and sports apparel and is engaged in developing and distributing performance sports products, through independent retailers and global distributors. The Company sells its products trough the internet and its own stores.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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