We recently published a list of These 10 Firms Are On Fire Today. In this article, we are going to take a look at where On Holding AG (NYSE:ONON) stands against other stocks that surged yesterday.
Wall Street’s main indices were a mixed bag anew on Thursday, with the tech-heavy Nasdaq the sole loser, as investors continued to digest results of more corporate earnings and key economic data.
The Nasdaq was down by 0.18 percent. In contrast, the Dow Jones grew by 0.65 percent while the S&P 500 rose by 0.41 percent.
Beyond the major indices, 10 companies finished stronger on the back of impressive corporate earnings and planned mergers and acquisitions. In this article, we explore the specific reasons behind their surge.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.
A team of athletes showcasing the company's athletic footwear in an outdoor stadium.
On Holding saw its share prices grow by 4.62 percent on Thursday to finish at $60.25 apiece following a bullish outlook for the rest of the year.
In a statement earlier, On Holding AG (NYSE:ONON) said it expects full-year net sales to grow by 28 percent from the same period a year earlier.
“[On Holding] continues to experience strong demand across channels, regions, and product categories. The company looks to further build on this global brand momentum with an exciting product pipeline for the rest of the year,” the company said.
In the first quarter of the year, On Holding AG (NYSE:ONON) achieved a 43-percent increase in net sales, at CHF726.6 million versus the CHF508.2 million in the same period last year.
The figure, however, failed to push its net income higher, having ended 38 percent lower at $56.7 million versus $91.4 million year-on-year.
Following the results, investment firm Goldman Sachs maintained its “hold” recommendation on its stock, while giving the company a $64 price target.
On the same day, investment firm Needham raised its price target for On Holding AG (NYSE:ONON), to $62 from $55 previously, while also recommending to buy the stock.
Overall, ONON ranks 9th on our list of stocks that surged last week. While we acknowledge the potential of ONON as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than ONON but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
