On Holding AG (NYSE:ONON) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• On Holding AG has a consensus analyst rating of “Moderate Buy” from 24 brokerages, with an average 1-year price target of $57.55.
• Recent analyst updates were mixed: some firms lowered price targets, but others maintained bullish ratings, including a strong-buy upgrade from Raymond James.
• The company’s latest news was broadly positive, as On Holding beat Q1 expectations and raised its full-year profitability outlook, though direct-to-consumer sales came in below expectations.

Shares of On Holding AG (NYSE:ONON - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-four ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation, seventeen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $57.55.

ONON has been the topic of a number of recent analyst reports. Needham & Company LLC dropped their target price on shares of ON from $52.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday. Barclays dropped their target price on shares of ON from $60.00 to $57.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 4th. Evercore set a $42.00 target price on shares of ON in a research report on Tuesday. Raymond James Financial raised shares of ON from an "outperform" rating to a "strong-buy" rating and set a $52.00 target price on the stock in a research report on Thursday, April 23rd. Finally, Stifel Nicolaus set a $58.00 price target on shares of ON in a research note on Tuesday, March 3rd.

Insider Transactions at ON

In other ON news, CEO Martin Hoffmann sold 4,150 shares of the firm's stock in a transaction on Monday, April 27th. The shares were sold at an average price of $35.84, for a total transaction of $148,736.00. Following the transaction, the chief executive officer directly owned 1,385,099 shares of the company's stock, valued at approximately $49,641,948.16. This trade represents a 0.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 20,750 shares of company stock worth $745,838.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cullen Frost Bankers Inc. grew its position in ON by 639.7% during the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company's stock worth $25,000 after purchasing an additional 467 shares during the last quarter. Caitlin John LLC purchased a new position in ON during the 4th quarter worth $25,000. MidAtlantic Capital Management Inc. purchased a new position in ON during the 4th quarter worth $27,000. Caitong International Asset Management Co. Ltd grew its position in ON by 555.1% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company's stock worth $33,000 after purchasing an additional 594 shares during the last quarter. Finally, Ascentis Independent Advisors acquired a new stake in shares of ON in the 1st quarter worth $34,000. 36.39% of the stock is owned by hedge funds and other institutional investors.

ON Trading Down 0.6%

NYSE ONON opened at $33.83 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.13. The firm's fifty day moving average price is $36.73 and its 200 day moving average price is $41.92. The company has a market capitalization of $21.58 billion, a price-to-earnings ratio of 46.98, a price-to-earnings-growth ratio of 0.69 and a beta of 2.09. ON has a 12 month low of $31.41 and a 12 month high of $61.29.

Key ON News

Here are the key news stories impacting ON this week:

• Positive Sentiment: On Holding beat Q1 expectations, reporting earnings per share above estimates and revenue slightly ahead of forecasts, with sales up 14.5% year over year. On Holding AG Q1 2026 earnings report
• Positive Sentiment: The company raised its full-year profitability outlook, signaling management confidence that margins and earnings can improve as growth continues. CNBC report on On Holding earnings
• Positive Sentiment: Analysts remain constructive overall despite trimming targets, with Needham lowering its price target to $45 while keeping a Buy rating, still implying upside from current levels. Needham price target update
• Positive Sentiment: Commentary from market watchers said On Holding is gaining share in core markets and could be setting up for a longer-term rally as operating leverage improves. MarketBeat analysis of On Holding
• Neutral Sentiment: Investors were also focused on the Q1 earnings call transcript and the company’s guidance details, which will help clarify whether growth can stay strong through the rest of 2026. Seeking Alpha earnings call transcript
• Negative Sentiment: One concern from the earnings update was that direct-to-consumer sales came in below expectations, suggesting some softness in a key high-margin channel. CNBC report on On Holding earnings

ON Company Profile

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.

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