Telsey Advisory Group maintained its "outperform" rating for ONON
While earnings season is beginning to wind down, two big-name companies took to the confessional last night and this morning, sending their respective shares abuzz. In focus are On Holding AG (NYSE:ONON) and Okta Inc (NASDAQ:OKTA), last seen up 4.2% at $49.88 and 16.5% at $101.52, respectively.
Swiss footwear maker ONON is enjoying the fruits of its fourth-quarter earnings and revenue beat, in which its adjusted earnings per share (EPS) came in at 37 cents, on revenue of $675 million. The company attributed its quarterly win to "remarkable brand momentum" and "strong demand."
In response, Telsey Advisory Group maintained its "outperform" rating, remaining with the majority 18 of 21 covering brokerages that carried a "buy" or better recommendation heading into today. ONON has been overdue for a pop, struggling to overcome its recent fall from its Jan. 30 record high of $64.05. Over the last 12 months, On Holdings stock has added 48.5%, and is looking to nab its best daily percentage gain since December.
Chipmaker OKTA is fresh off an earnings beat as well, with added praise stemming from its impressive full-year profit outlook. The tech giant posted an EPS of 78 cents on $682 million in revenue for its fourth quarter, with CEO Todd McKinnon citing "strength across the board."
Moving into today, 18 of the 37 firms following OKTA sport a "buy" or "strong buy" rating. This sentiment was echoed by a slew of bull notes this morning, including an upgrade to "outperform" from "neutral" at Mizuho.
Today's pop puts Okta stock back above the 50-day moving average, after a slip below it yesterday. So far in 2025, the security has added 30.3%, and is now on track for its best day since February 2024.