Needham analyst Tom Nikic has maintained their bullish stance on ONON stock, giving a Buy rating today.
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Tom Nikic has given his Buy rating due to a combination of factors that highlight On Holding AG’s robust growth trajectory and financial performance. The company has demonstrated impressive revenue growth, surpassing market expectations with a 35% increase in Q3, which is higher than the anticipated 30%. Additionally, On Holding AG’s adjusted EBITDA has also exceeded consensus estimates, indicating strong operational efficiency.
Despite a reduction in the price target from $62 to $52, Nikic still sees a significant upside potential of over 20% from the current share price. The company’s upward revision of its full-year outlook, with an expected 34% revenue growth and improved EBITDA margins, further supports the positive sentiment. This solid performance and optimistic forecast underpin Nikic’s confidence in the stock’s potential, justifying the Buy rating.
In another report released today, TD Cowen also reiterated a Buy rating on the stock with a $55.00 price target.