(ONON) On Holding - Ratings and Ratios

On Holding Ltd is a global sports products company that designs and distributes high-performance athletic footwear, apparel, and accessories for various activities such as running, outdoor, training, and tennis. With a strong online presence and distribution network through independent retailers and stores, the company has established itself as a significant player in the sports industry since its founding in 2010 in Zurich, Switzerland. Visit their website at https://www.on.com/en-in for more information.

As a footwear company listed on the NYSE under the ticker symbol ONON, On Holding Ltd has demonstrated impressive growth, reflected in its current market capitalization of $19.19 billion USD. The companys financials indicate a high price-to-earnings ratio of 77.42, suggesting strong investor confidence, although the forward P/E ratio of 55.56 indicates potential for continued growth. With a return on equity of 15.53%, On Holding Ltd is efficiently utilizing shareholder equity.

From a technical standpoint, On Holding Ltds stock is currently priced at $56.95, slightly below its 20-day simple moving average of $57.65. The stock has shown significant volatility, as indicated by its average true range of 1.86, equivalent to 3.27%. Given the current support and resistance levels, the stock is likely to face resistance at $58.2 and find support at $54.7 and lower levels. The 50-day and 200-day moving averages at $49.64 and $51.32, respectively, suggest a longer-term uptrend.

Forecasting On Holding Ltds stock performance based on the provided technical and fundamental data, we can anticipate potential price movements. Given the current price is near the 20-day SMA, a break above $58.2 could signal further upside, potentially targeting the 52-week high of $63.62. Conversely, a drop below $54.7 may lead to a retest of lower support levels. The high P/E ratio and significant market capitalization suggest investor confidence, but the forward P/E indicates potential for earnings growth. As such, a likely forecast is that the stock will continue its upward trend, potentially reaching $60 in the near term, contingent on maintaining support above $54.7.