10 Best High Growth Consumer Stocks to Buy Now

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1. On Holding AG (NYSE:ONON)

5-Year Average Revenue Growth: 54.06%

Number of Hedge Fund Holders: 53

Market Cap: $14.60 billion

On Holding AG (NYSE:ONON) is one of the best high growth consumer stocks to buy now.  On August 13, UBS analyst Jay Sole maintained his Buy rating on On Holding AG (NYSE:ONON), and raised the price target from $75 to $79. Sole’s implied upside for the stock is now a whopping 74.6%.  Wall Street’s average implied upside for the stock stands at a solid 46.14%.

Sole sees the sportswear company’s valuation multiples expanding. He also believes that the company will continue to beat earnings estimates. The company has seen robust growth as a result of brand recognition, innovative design, and quality products.

The Swiss sports company reported revenue of $907.06 million, up 44.5% year-over-year, and beating Wall Street estimates of $885.91 million. However, the company reported a loss for the quarter, with the EPS of -$0.113, compared to analysts’ estimates of  $0.241. The loss was a result of foreign exchange losses and increased operating losses. This was a surprise because the company has seen expanding margins over the last few years.

While we acknowledge the potential of ONON to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ONON and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Growth Stocks to Buy According to Analysts and 13 Most Undervalued Cybersecurity Stocks to Buy Now.

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