On Holdings’ (NYSE: ONON) share price has its share of headwinds, including macroeconomic pressures, a surprise CEO change, FX conversion, and slowing growth, but these are priced into the market. While headwinds remain, the company continues to perform well, sustaining a high growth pace and widening margins in a world with share for the taking.
Its biggest competitor is Nike (NYSE: NKE), and Nike is a long way from reclaiming its lost glory. The takeaway for ONON investors is that the stock trades at a significant discount to its outlook, an outlook that was juiced by its May guidance update, suggesting triple-digit upside for patient investors.
