ON (ONON) Stock Forecast & Price Target

Q: What analysts cover ON?

ON has been rated by research analysts at Bank of America , Barclays , BTIG Research , Evercore , Jefferies Financial Group , JPMorgan Chase & Co. , KeyCorp , Needham & Company LLC , Raymond James Financial , Robert W. Baird , Sanford C. Bernstein , Stifel Nicolaus , Telsey Advisory Group , The Goldman Sachs Group , Truist Financial , UBS Group , Weiss Ratings , William Blair , Williams Trading , and Zacks Research in the past 90 days.

$28.05 -0.31 (-1.09%)

As of 09/4/2026 03:58 PM Eastern

Compare

ON - Analysts' Recommendations and Stock Price Forecast (2026)

Consensus Rating

Moderate Buy

Based on 25 Analyst Ratings

Sell
2

Hold
4

Buy
19

Based on 25 Wall Street analysts who have issued ratings for ON in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 25 analysts, 2 have given a sell rating, 4 have given a hold rating, 18 have given a buy rating, and 1 has given a strong buy rating for ONON.

Consensus Price Target

$48.57
73.16% Upside

According to the 25 analysts' twelve-month price targets for ON, the average price target is $48.57. The highest price target for ONON is $73.00, while the lowest price target for ONON is $20.00. The average price target represents a forecasted upside of 73.16% from the current price of $28.05.

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Get the Latest News and Ratings for ONON and Related Stocks

Enter your email address to receive the latest news and analysts' ratings for ON and its competitors.

SMS is currently available in Australia, Belgium, Canada, France, Germany, Ireland, Italy, New Zealand, the Netherlands, Singapore, South Africa, Spain, Switzerland, the United Kingdom, and the United States. By entering your phone number and clicking the sign-up button, you agree to receive periodic text messages from MarketBeat at the phone number you submitted, including texts that may be sent using an automatic telephone dialing system. Message and data rates may apply. Message frequency will vary. Messages will consist of stock alerts, news stories, and partner advertisements/offers. Consent is not a condition of the purchase of any goods or services. Text HELP for help/customer support. Unsubscribe at any time by replying "STOP" to any text message that you receive from MarketBeat or by visiting our mailing preferences page. Read our full terms of service and privacy policy.

ONON Analyst Ratings Over Time

Type	Current Forecast 9/5/25 to 9/5/26	1 Month Ago 8/6/25 to 8/6/26	3 Months Ago 6/7/25 to 6/7/26	1 Year Ago 9/5/24 to 9/5/25
Strong Buy	1 Strong Buy rating(s)	2 Strong Buy rating(s)	2 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	18 Buy rating(s)	15 Buy rating(s)	15 Buy rating(s)	18 Buy rating(s)
Hold	4 Hold rating(s)	4 Hold rating(s)	4 Hold rating(s)	1 Hold rating(s)
Sell	2 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$48.57	$53.63	$55.05	$64.20
Forecasted Upside	73.16% Upside	43.73% Upside	48.09% Upside	41.03% Upside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

ONON Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

ONON Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

ON Stock vs. The Competition

Type	ON	Consumer Discretionary Companies	Broader Market
Consensus Rating Score	2.72	2.20	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	73.16% Upside	202.85% Upside	14.03% Upside
News Sentiment Rating	Neutral News See Recent ONON News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export

Date	Brokerage	Analyst	Action	Rating	Price Target	Report Date Upside/Downside
9/3/2026	Zacks Research 5 of 5 stars		Downgrade	Hold ➝ Strong Sell
8/21/2026	Weiss Ratings 5 of 5 stars		Upgrade	Hold (C-) ➝ Hold (C)
8/12/2026	Sanford C. Bernstein 3 of 5 stars		Reiterated Rating	Outperform	$62.00	+98.53%
8/12/2026	The Goldman Sachs Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target		$42.00	+34.49%
8/12/2026	Evercore Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Michael Binetti Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$40.00	+28.09%
8/12/2026	Bank of America Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Buy
8/12/2026	Barclays Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Adrienne Yih Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Overweight	$46.00 ➝ $42.00	+35.73%
8/12/2026	Raymond James Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Strong Buy Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Downgrade	Strong-Buy ➝ Outperform	$52.00 ➝ $38.00	+22.80%
8/12/2026	Stifel Nicolaus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Jim Duffy Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$60.00 ➝ $41.00	+31.83%
8/12/2026	UBS Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Jay Sole Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$83.00 ➝ $73.00	+134.36%
Get the Latest News and Ratings for ONON and Related Stocks Enter your email address below to receive the latest news and analysts' ratings for ON and its competitors with MarketBeat's FREE daily newsletter.
8/12/2026	Telsey Advisory Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Cristina Fernandez Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Outperform	$51.00 ➝ $43.00	+38.96%
8/12/2026	Robert W. Baird Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Jonathan Komp Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Outperform	$70.00 ➝ $55.00	+77.74%
8/11/2026	Truist Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Joseph Civello Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$48.00 ➝ $40.00	+29.27%
8/11/2026	Jefferies Financial Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Set Target		$20.00	-35.37%
8/11/2026	Williams Trading Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Sam Poser Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$32.00	+3.41%
8/11/2026	BTIG Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Janine Stichter Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$70.00 ➝ $60.00	+94.77%
8/11/2026	William Blair Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Outperform ➝ Market Perform
8/11/2026	Needham & Company LLC Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Tom Nikic Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Lower Target	Buy	$45.00 ➝ $37.00	+17.26%
8/10/2026	KeyCorp Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Ashley Owens Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Overweight
7/2/2026	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Wendy Liu Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Initiated Coverage	Overweight	$51.00	+43.21%
5/13/2026	Guggenheim Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Simeon Siegel Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Buy	$51.00	+47.57%
12/5/2025	Piper Sandler Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Anna Andreeva Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Overweight
11/17/2025	Singular Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Strong-Buy
11/13/2025	TD Cowen Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	John Kernan Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$55.00 ➝ $57.00	+33.07%
11/13/2025	Morgan Stanley Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Alex Straton Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$65.00 ➝ $70.00	+60.93%
10/28/2025	Citigroup Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Buy ➝ Mixed
3/11/2025	HSBC Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Hold ➝ Buy	$58.00	+31.28%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 08:05 PM ET.

Should I Buy ON Stock? ONON Pros and Cons Explained

These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, September 3, 2026. Please send any questions or comments about these ON pros and cons to contact@marketbeat.com.

ON
Bull Case

Here are some ways that investors could benefit from investing in On Holding AG:

On Holding AG is currently trading at $28.32, which is near its 52-week low of $27.56, offering a potential entry point for investors who believe the market has overreacted to recent challenges. This price represents a significant discount to the consensus price target of $48.57, suggesting substantial upside potential if the company can execute its strategy effectively.
Strong insider confidence is evident as CEO Caspar Felix Coppetti and co-founder Olivier Bernhard each purchased 65,000 shares at an average price of $30.67 in August 2026. These significant personal investments signal that company leadership believes the current valuation is attractive and that the long-term fundamentals remain solid despite short-term market pressures.
The company demonstrated robust revenue growth, with the most recent quarter showing a 13.5% year-over-year increase to $1.05 billion. This growth trajectory, combined with a net margin of 12.09% and a return on equity of 22.92%, indicates that On Holding AG is effectively scaling its operations while maintaining profitability, which is a key driver for long-term shareholder value.
On Holding AG has strengthened its direct-to-consumer (DTC) business model, which is known for higher margins and better customer data. The company's record DTC mix and full-price gains are reinforcing its premium brand positioning, allowing it to capture more value per sale compared to traditional wholesale channels, thereby supporting its overall margin expansion goals.
Analysts maintain a "Moderate Buy" consensus rating, with 19 out of 25 analysts recommending a Buy or Strong Buy. This broad institutional support, coupled with recent price targets from firms like Sanford C. Bernstein at $62.00, suggests that the professional investment community views On Holding AG as a fundamentally sound company with a clear path to recovery and growth.

ON
Bear Case

Investors should be bearish about investing in On Holding AG for these reasons:

The stock has experienced a significant decline, falling 27.2% in the last month, which reflects growing investor concern over execution risks. This sharp drop, which pushed the stock to new 52-week lows, indicates that the market is pricing in potential difficulties in maintaining growth momentum, particularly in the face of rising costs and competitive pressures.
On Holding AG faces significant headwinds from new U.S. tariffs and rising costs, which are expected to pressure margins in the second half of the year. Although the company raised its 2026 gross-margin floor to 65%, the impact of these external factors could erode profitability and limit the company's ability to invest in growth initiatives, making the near-term outlook uncertain.
The company's high beta of 2.08 indicates that its stock is significantly more volatile than the overall market. This heightened sensitivity to market movements means that investors may experience larger price swings, both up and down, which can be particularly challenging for those with a lower risk tolerance or shorter investment horizons.
Recent earnings results have shown some weakness, with the company missing analysts' consensus estimates for EPS in the most recent quarter, reporting $0.35 compared to the expected $0.42. This miss, combined with revenue that fell short of the $1.09 billion consensus, suggests that the company may be facing challenges in meeting its financial targets, which could lead to further downward revisions in analyst forecasts.
Short interest in On Holding AG has been increasing, with the number of shares shorted rising to 17.3 million in the most recent reporting period. This growing short interest indicates that a significant portion of the market is betting against the stock, which can create additional downward pressure on the share price and increase volatility, particularly if the company fails to deliver on its strategic initiatives.

ONON Forecast - Frequently Asked Questions

According to the research reports of 25 Wall Street equities research analysts, the average twelve-month stock price forecast for ON is $48.57, with a high forecast of $73.00 and a low forecast of $20.00.

25 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for ON in the last year. There are currently 2 sell ratings, 4 hold ratings, 18 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street research analysts is that investors should "moderate buy" ONON shares.

According to analysts, ON's stock has a predicted upside of 73.16% based on their 12-month stock forecasts.

Over the previous 90 days, ON's stock had 4 downgrades and 2 upgrades by analysts.

ON has been rated by research analysts at Bank of America, Barclays, BTIG Research, Evercore, Jefferies Financial Group, JPMorgan Chase & Co., KeyCorp, Needham & Company LLC, Raymond James Financial, Robert W. Baird, Sanford C. Bernstein, Stifel Nicolaus, Telsey Advisory Group, The Goldman Sachs Group, Truist Financial, UBS Group, Weiss Ratings, William Blair, Williams Trading, and Zacks Research in the past 90 days.

Analysts like ON more than other "consumer discretionary" companies. The consensus rating for ON is Moderate Buy while the average consensus rating for "consumer discretionary" companies is Hold. Learn more on how ONON compares to other companies.

Stock Forecasts and Research Tools

Related Companies

Today's Analyst Ratings

Top-Rated Stocks

More Ratings Tools

Brokerages With ON Recommendations

MarketBeat monitors more than a dozen sources for ON analyst ratings, with the most recent rating issued on 9/3/2026.

From Our Partners

Unlock superior investment research and tools.

Get MarketBeat All Access

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

ON (ONON) Stock Forecast & Price Target