Fintel reports that on November 22, 2024, Needham initiated coverage of On Holding (NYSE:ONON) with a Buy recommendation.
Analyst Price Forecast Suggests 7.36% Upside
As of November 21, 2024, the average one-year price target for On Holding is $60.32/share. The forecasts range from a low of $50.50 to a high of $70.78. The average price target represents an increase of 7.36% from its latest reported closing price of $56.19 / share.
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The projected annual revenue for On Holding is 2,060MM, a decrease of 4.58%. The projected annual non-GAAP EPS is 0.62.
What is the Fund Sentiment?
There are 497 funds or institutions reporting positions in On Holding. This is an increase of 47 owner(s) or 10.44% in the last quarter. Average portfolio weight of all funds dedicated to ONON is 0.44%, an increase of 6.11%. Total shares owned by institutions decreased in the last three months by 2.75% to 184,316K shares. 
The put/call ratio of ONON is 0.40, indicating a bullish outlook.
What are Other Shareholders Doing?
Alliancebernstein holds 16,906K shares representing 5.92% ownership of the company. In its prior filing, the firm reported owning 11,175K shares , representing an increase of 33.90%. The firm increased its portfolio allocation in ONON by 156.14% over the last quarter.
Durable Capital Partners holds 5,618K shares representing 1.97% ownership of the company. In its prior filing, the firm reported owning 0K shares , representing an increase of 100.00%.
Bank Of America holds 5,433K shares representing 1.90% ownership of the company. In its prior filing, the firm reported owning 2,116K shares , representing an increase of 61.05%. The firm decreased its portfolio allocation in ONON by 21.69% over the last quarter.
Wellington Management Group Llp holds 5,305K shares representing 1.86% ownership of the company. In its prior filing, the firm reported owning 6,050K shares , representing a decrease of 14.04%. The firm decreased its portfolio allocation in ONON by 84.41% over the last quarter.
American Century Companies holds 4,709K shares representing 1.65% ownership of the company. In its prior filing, the firm reported owning 5,833K shares , representing a decrease of 23.89%. The firm decreased its portfolio allocation in ONON by 0.96% over the last quarter.
On Holding Background Information
(This description is provided by the company.)
On was born in the Swiss Alps with one goal: to revolutionize the sensation of running by empowering all to run on clouds. Eleven years after market launch, On delivers industry-disrupting innovation in premium footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. Fueled by customer-recommendation, On’s award-winning CloudTec® innovation, purposeful design and groundbreaking strides in sportswear’s circular economy have attracted a fast-growing global fanbase — inspiring humans to explore, discover and dream on. On is present in more than 60 countries globally and engages with a digital community on www.on-running.com.
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