10 Firms Crushing the Market

8. On Holding AG (NYSE:ONON)

ON Holding AG grew its share prices by 11.83 percent to finish at $57.38 apiece as investors cheered the company’s bullish business outlook for the rest of the year.

In a statement, On Holding AG (NYSE:ONON) said it now expects its full-year net sales to grow by 28 percent.

“On 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,” it said.

In the first quarter of the year, On Holding AG (NYSE:ONON) achieved a 43-percent increase in net sales in the first quarter of the year, at CHF726.6 million versus the CHF508.2 million in the same period last year.

This, however, failed to push its net income higher during the period, ending 38 percent lower at $56.7 million versus $91.4 million year-on-year.

On the same day, investment firm Needham also raised its price target for On Holding AG (NYSE:ONON), to $62 from $55 previously, while also recommending to buy the stock.