Analyst Tom Nikic of Needham reiterated a Buy rating on On Holding AG (ONON – Research Report), retaining the price target of $64.00.
Tom Nikic has given his Buy rating due to a combination of factors including On Holding AG’s impressive revenue growth and strong financial performance. The company has shown significant momentum with a 41% increase in revenue, surpassing its guidance, and an adjusted EBITDA that exceeded expectations by nearly 10 million CHF.
Additionally, On Holding AG is expanding its brand presence and distribution channels, both directly to consumers and through wholesale. Despite the high valuation, the company’s robust margin profile and cash-rich balance sheet provide a solid foundation for continued growth. The forward-looking guidance for 2025 also indicates sustained revenue growth and margin expansion, reinforcing the positive outlook for the stock.
In another report released today, Telsey Advisory also maintained a Buy rating on the stock with a $67.00 price target.