On Holding (ONON) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The athleticwear maker is still fairly unknown globally, giving it tons of room to run. On has a resilient model that supports growth even amid challenges like inflation.
On Holdings is a Swiss company that is gaining popularity in the running shoes and sportswear. The company could triple its sales and still would make less than some competitors like Under Armor today. There's a long run ahead. I think ON is currently a hold after having risen more than 20% post-Q1 2024 results, but I'll be waiting for a buy opportunity in the short term.
On Holding beat estimates on the top and bottom lines. The company continues to gain market share amid a difficult environment in its industry.
Another record quarter should lead off a record year of sales for On Holding. The company thinks strong demand will result in at least 30% sales growth in 2024.