Is It Too Late to Buy On Holding Stock?
Ever since On Holding (NYSE: ONON) went public through an initial public offering (IPO) in late 2021, investors have wondered if the athletic footwear company could become the next . Well, recently, it's turned out much better for investors.
While Nike stock has dropped by more than 20% so far in 2024, On Holding shares have soared by 65%. That's because the company's sales continue to skyrocket. Net sales increased over 55% on a constant currency basis in 2023, and the company expects at least 30% sales growth on that basis for 2024. Investors bid up the stock as those sales are also flowing to the bottom line with earnings per share and the company's cash balance soaring in the first half of 2024.
Though On Holding is a Swiss company based in Europe, two-thirds of On's sales comes from North and South America. Sales in that region continue to increase at a rapid rate, and there's good reason for investors to think the runway for those sales can continue to accelerate.
Source Fool.com
Nike Inc. B Stock
The stock is one of the favorites of our community with 61 Buy predictions and 2 Sell predictions.
With a target price of 110 € there is a hugely positive potential of 55.63% for Nike Inc. B compared to the current price of 70.68 €.
