On Holding (ONON) continued its recent downward trend, declining 0.82% to $42.57 in pre-market trading, driven by broader market weakness and ongoing concerns regarding the technology sector selloff.
- Valuation remains a key headwind, as the stock's P/E ratio of 49.68x significantly exceeds the fair ratio of 31.23x, indicating overvaluation on earnings multiples.
- Analyst consensus remains bullish, maintaining an average price target of $64.35, which implies a potential 53.87% upside.