Shares of On Holding Ltd (NYSE:ONON) tanked in early trading on Wednesday, despite the company reporting upbeat fourth-quarter earnings.
Here are the key analyst insights:
- Guggenheim Securities analyst Simeon Siegel reiterated a Buy rating, while reducing the price target from $59 to $51.
- BTIG analyst Janine Stichter reaffirmed a Buy rating and price target of $70.
- Telsey Advisory Group analyst Cristina Fernández maintained an Outperform rating and price target of $65.
Check out other analyst stock ratings.
Guggenheim Securities: On Holding’s sales growth of 30.6% in constant currency terms came in better than expected. Wholesale topped Street expectations and DTC coming in slightly below, Siegel said in a note. The company gross markets of 63.9% was meaningfully better than expected, expanding around 180 basis points year-on-year.
Siegel credits “structural operational efficiencies, strong full-price execution and favorable FX” for driving On’s growth. …