Stock Track | On Holding Soars 5.10% Following Strong Q3 Results and Analyst Upgrades

Stock Track11-13

Shares of On Holding AG (NYSE: ONON) are soaring 5.10% in pre-market trading on Thursday, following the company's impressive third-quarter earnings report and a series of analyst upgrades. The Swiss athletic apparel company, backed by tennis legend Roger Federer, continues to demonstrate strong growth and improved profitability.

On Wednesday, On Holding reported third-quarter net sales of CHF 794.4 million ($994.6 million), representing a 24.9% increase year-over-year and a 34.5% rise on a constant-currency basis. The company's gross profit margin expanded to 65.7% from 60.6% in the same period last year, while net income surged 289.8% to CHF 118.9 million ($148.87 million). These results significantly exceeded analyst expectations, prompting the company to raise its full-year 2025 guidance.

Following the strong earnings report, several analysts have upgraded their price targets for On Holding. JPMorgan raised its target to $75 from $71, UBS increased its target to $85 from $79, and Morgan Stanley lifted its target to $70 from $65, all maintaining their buy or overweight ratings. The positive sentiment from Wall Street, combined with the company's robust financial performance and improved outlook, is driving investor enthusiasm and contributing to the stock's pre-market rally.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment