Needham & Company LLC Reaffirms “Buy” Rating for ON (NYSE:ONON)

ON (NYSE:ONON)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They presently have a $52.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 16.03% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Zacks Research cut shares of ON from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 12th. The Goldman Sachs Group increased their target price on shares of ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. UBS Group restated a “buy” rating on shares of ON in a research note on Monday, January 5th. Evercore ISI reduced their price objective on ON from $68.00 to $50.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Finally, Singular Research upgraded ON to a “strong-buy” rating in a report on Monday, November 17th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, ON currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.86.

ON Price Performance

ONON stock opened at $44.82 on Wednesday. The business’s fifty day moving average price is $46.55 and its 200 day moving average price is $45.10. ON has a 12-month low of $34.38 and a 12-month high of $64.05. The company has a current ratio of 2.55, a quick ratio of 2.05 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $28.14 billion, a PE ratio of 58.20, a P/E/G ratio of 1.35 and a beta of 2.15.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Washington Trust Advisors Inc. acquired a new position in ON in the second quarter valued at approximately $29,000. United Financial Planning Group LLC purchased a new stake in shares of ON during the 3rd quarter worth approximately $42,000. Horizon Investments LLC acquired a new position in shares of ON in the 3rd quarter valued at $44,000. GAMMA Investing LLC grew its position in shares of ON by 5,888.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the company’s stock valued at $46,000 after buying an additional 1,060 shares during the last quarter. Finally, Signaturefd LLC raised its stake in ON by 137.4% during the 4th quarter. Signaturefd LLC now owns 1,244 shares of the company’s stock worth $58,000 after acquiring an additional 720 shares in the last quarter. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON News Roundup

Here are the key news stories impacting ON this week:

• Positive Sentiment: Multiple analyst reaffirmations with higher price targets that could support upside: BTIG reiterated a “buy” with a $70 target (largest upside), Telsey kept an “outperform” with $65, and Needham reaffirmed “buy” with $52 — these raise upside expectations and can lift sentiment. BTIG Article Other Analyst Coverage
• Positive Sentiment: On named veteran consumer executive Frank Sluis as its new CFO — a management hire that investors often view positively because it can improve execution, investor communication and financial planning. Business Wire: CFO Appointment
• Neutral Sentiment: Coverage and commentary are now re-assessing On’s valuation relative to its growth narrative — the company has a high P/E (~58) and a PEG ~1.35, so while growth supports premium multiples, valuation is a key focus for investors deciding on new positions. Yahoo: Valuation Assessment
• Negative Sentiment: Shares are under short-term pressure and recently fell more than the broader market in the latest session; price sits below the 50‑day and roughly at the 200‑day moving average, which may signal technical weakness for short‑term traders. Zacks: Short‑term Dip

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.