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.

$32.24 +0.65 (+2.04%)

Closing price 08/14/2026 03:59 PM Eastern

Extended Trading

$32.23 -0.01 (-0.02%)

As of 08/14/2026 07:59 PM Eastern

Compare

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

Consensus Rating

Moderate Buy

Based on 25 Analyst Ratings

Sell
1

Hold
5

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, 1 has given a sell rating, 5 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
50.68% 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 50.68% from the current price of $32.24.

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.

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ONON Analyst Ratings Over Time

Type	Current Forecast 8/16/25 to 8/16/26	1 Month Ago 7/17/25 to 7/17/26	3 Months Ago 5/18/25 to 5/18/26	1 Year Ago 8/16/24 to 8/16/25
Strong Buy	1 Strong Buy rating(s)	3 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	5 Hold rating(s)	3 Hold rating(s)	4 Hold rating(s)	1 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)	1 Sell rating(s)
Consensus Price Target	$48.57	$53.79	$55.05	$64.20
Forecasted Upside	50.68% Upside	44.51% Upside	44.30% Upside	41.57% 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	2.76	2.21	2.53
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	50.68% Upside	148.56% Upside	11.05% 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
8/12/2026	Sanford C. Bernstein 3 of 5 stars		Reiterated Rating	Outperform	$62.00	+98.53%
8/12/2026	The Goldman Sachs Group 3 of 5 stars		Set Target		$42.00	+34.49%
8/12/2026	Evercore 3 of 5 stars	Michael Binetti 3 of 5 stars	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%
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%
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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
8/7/2026	Weiss Ratings Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Hold (C-)
8/5/2026	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Strong-Buy ➝ Hold
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 Sunday at 07:02 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 Wednesday, August 12, 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:

The company recently reported earnings per share that exceeded analysts' expectations, indicating strong financial performance and potential for growth.
On Holding AG has shown a significant year-over-year revenue increase, suggesting a growing market presence and demand for its products.
The current stock price is around $39, which may present a favorable entry point for investors looking to capitalize on potential future growth.
With a low debt-to-equity ratio, On Holding AG demonstrates financial stability, reducing the risk associated with high levels of debt.
The company has a strong current ratio, indicating it has sufficient assets to cover its short-term liabilities, which is a positive sign for liquidity.

ON
Bear Case

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

The stock has experienced fluctuations, with a 12-month high and low indicating potential volatility that could deter risk-averse investors.
Despite recent earnings growth, the overall market for performance footwear can be highly competitive, which may impact future profitability.
On Holding AG's quick ratio, while strong, suggests that the company may still face challenges in meeting immediate financial obligations without selling inventory.
As a relatively young company, On Holding AG may not have the same level of brand recognition as more established competitors, which could limit market share growth.
Investors should consider the potential for economic downturns that could affect consumer spending on non-essential items like performance footwear and apparel.

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 equities research analysts have issued "buy," "hold," and "sell" ratings for ON in the last year. There is currently 1 sell rating, 5 hold ratings, 18 buy ratings and 1 strong buy rating for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" ONON shares.

According to analysts, ON's stock has a predicted upside of 50.68% based on their 12-month stock forecasts.

Over the previous 90 days, ON's stock had 3 downgrades and 1 upgrade 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.

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This page (NYSE:ONON) was last updated on 8/16/2026 by MarketBeat.com Staff.

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ON (ONON) Stock Forecast & Price Target