Nike Is Losing Fans on Wall Street as Weak Sales Pressure Stock [BNN Bloomberg (Canada)]
On Holding AG (ONON)
Company Research
Source: BNN Bloomberg
losses for the first time since the 1980s and continue to trail both peers and the broader market. The world's largest sportswear company has lost more than 40% of its value since a 2021 peak, representing about $130 billion of shareholder wealth. It's struggling with the same headwinds as other consumer-linked stocks, as shoppers curb their spending in the face of elevated borrowing costs. But ahead of Nike's earnings report Thursday after the market closes, analysts also say Nike needs to roll out new shoes and apparel offerings to revive demand as it competes with the likes of On Holding AG, Adidas AG and Deckers Outdoor Corp.'s Hoka. Its stock is underperforming all those companies this year, and picked up a rare sell rating this past week, from Williams Trading. “A key catalyst to jumpstart the stock would be proof that Nike is launching innovation sufficient to drive a sales inflection,” Bank of America Corp. analyst Lorraine Hutchinson wrote in a note to clients this week
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ONON
News
- Analyst Expects Net Loss of 45K Stores Over the Next Few Years [Yahoo! Finance]Yahoo! Finance
- On Holding AG (NYSE: ONON) had its "outperform" rating re-affirmed by analysts at Telsey Advisory Group. They now have a $37.00 price target on the stock.MarketBeat
- On Holding AG (NYSE: ONON) had its "overweight" rating re-affirmed by analysts at Morgan Stanley. They now have a $32.00 price target on the stock.MarketBeat
- On Holding AG (NYSE: ONON) is now covered by analysts at William Blair. They set an "outperform" rating on the stock.MarketBeat
- Nike Starts Speeding Out Sneakers That Will Shape Its Future [Yahoo! Finance]Yahoo! Finance
ONON
Earnings
- 3/12/24 - Miss
ONON
Sec Filings
- 4/2/24 - Form 144
- 4/2/24 - Form 144
- 3/28/24 - Form 6-K
- ONON's page on the SEC website