ON (ONON) Stock Forecast & Price Target

Q: What analysts cover ON?

ON has been rated by research analysts at Barclays , Evercore , Guggenheim , KeyCorp , Needham & Company LLC , Raymond James Financial , Telsey Advisory Group , Truist Financial , and Weiss Ratings in the past 90 days.

$35.18 -1.03 (-2.84%)

Closing price 03:58 PM Eastern

Extended Trading

$35.35 +0.17 (+0.49%)

As of 07:57 PM Eastern

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

Consensus Rating

Moderate Buy

Based on 22 Analyst Ratings

Sell
1

Hold
4

Buy
17

Based on 22 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 22 analysts, 1 has given a sell rating, 4 have given a hold rating, 15 have given a buy rating, and 2 have given a strong buy rating for ONON.

Consensus Price Target

$55.05
56.49% Upside

According to the 22 analysts' twelve-month price targets for ON, the average price target is $55.05. The highest price target for ONON is $85.00, while the lowest price target for ONON is $31.00. The average price target represents a forecasted upside of 56.49% from the current price of $35.18.

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 6/23/25 to 6/23/26	1 Month Ago 5/24/25 to 5/24/26	3 Months Ago 3/25/25 to 3/25/26	1 Year Ago 6/23/24 to 6/23/25
Strong Buy	2 Strong Buy rating(s)	2 Strong Buy rating(s)	1 Strong Buy rating(s)	1 Strong Buy rating(s)
Buy	15 Buy rating(s)	15 Buy rating(s)	18 Buy rating(s)	17 Buy rating(s)
Hold	4 Hold rating(s)	4 Hold rating(s)	3 Hold rating(s)	2 Hold rating(s)
Sell	1 Sell rating(s)	1 Sell rating(s)	2 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$55.05	$55.05	$59.24	$63.85
Forecasted Upside	56.49% Upside	38.56% Upside	68.01% Upside	20.34% 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	Retail/Wholesale Companies	Broader Market
Consensus Rating Score	2.82	2.14	2.52
Consensus Rating	Moderate Buy	Hold	Moderate Buy
Predicted Upside	55.16% Upside	60.44% Upside	16.27% Upside
News Sentiment Rating	Positive 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
5/13/2026	Barclays 3 of 5 stars	Adrienne Yih 3 of 5 stars	Lower Target	Overweight	$57.00 ➝ $46.00	+35.99%
5/13/2026	Guggenheim 5 of 5 stars	Simeon Siegel Not Rated	Reiterated Rating	Buy	$51.00	+47.57%
5/13/2026	KeyCorp 2 of 5 stars	Ashley Owens 1 of 5 stars	Lower Target	Overweight	$58.00 ➝ $43.00	+27.12%
5/13/2026	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	$60.00 ➝ $51.00	+50.78%
5/12/2026	Weiss Ratings Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Sell (D+) ➝ Hold (C-)
5/12/2026	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		$42.00	+24.17%
5/12/2026	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	$55.00 ➝ $48.00	+41.91%
5/12/2026	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	$52.00 ➝ $45.00	+34.91%
4/23/2026	Raymond James Financial Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Upgrade	Outperform ➝ Strong-Buy	$52.00	+42.22%
3/11/2026	Zacks Research Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Strong-Buy ➝ Hold
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.
3/4/2026	Sanford C. Bernstein Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Reiterated Rating	Outperform
3/3/2026	Stifel Nicolaus Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Peter McGoldrick Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Set Target		$58.00	+32.19%
3/3/2026	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	Reiterated Rating	Buy	$70.00	+59.54%
2/19/2026	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	Reiterated Rating	Buy
1/8/2026	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	Downgrade	Buy ➝ Hold	$55.00 ➝ $47.00	-7.14%
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	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Grace Smalley Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Overweight	$71.00 ➝ $75.00	+75.09%
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%
11/13/2025	The Goldman Sachs Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Richard Edwards Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Neutral	$50.00 ➝ $52.00	+25.54%
11/13/2025	Bank of America Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Thierry Cota Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Boost Target	Buy	$62.00 ➝ $63.00	+52.09%
11/12/2025	Jefferies Financial Group Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating	Randal Konik Subscribe to MarketBeat All Access for the analyst's recommendation accuracy rating	Reiterated Rating	Underperform	$31.00	-11.89%
10/28/2025	Citigroup Subscribe to MarketBeat All Access for the firm's recommendation accuracy rating		Downgrade	Buy ➝ Mixed
5/14/2025	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	Boost Target	Outperform	$63.00 ➝ $70.00	+21.93%
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 Tuesday at 08:14 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 Sunday, June 21, 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 strong earnings, with a quarterly EPS of $0.46, surpassing analysts' expectations, indicating robust financial performance.
On Holding AG has shown significant revenue growth, with a year-over-year increase of 14.5%, suggesting a strong demand for its products.
The current stock price is around $36, which is relatively close to its 12-month low of $31.41, potentially offering a buying opportunity for investors looking for value.
Insider buying activity has been notable, with the CEO acquiring 60,000 shares, reflecting confidence in the company's future prospects.
The company maintains a healthy financial position, with a current ratio of 2.98, indicating it has sufficient assets to cover its liabilities.

ON
Bear Case

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

The stock has a high PE ratio of 39.90, which may suggest that it is overvalued compared to its earnings, potentially leading to a price correction.
Despite recent growth, the company faces competition in the performance footwear market, which could impact future sales and market share.
The beta of 2.10 indicates higher volatility compared to the market, meaning the stock price may experience significant fluctuations, posing a risk for investors.
Insider selling activity, although limited, has occurred, which could signal a lack of confidence among some executives regarding the company's short-term performance.
The stock's 200-day moving average price is $41.82, suggesting that it has been trading below this average, which may indicate a bearish trend.

ONON Forecast - Frequently Asked Questions

According to the research reports of 22 Wall Street equities research analysts, the average twelve-month stock price forecast for ON is $55.05, with a high forecast of $85.00 and a low forecast of $31.00.

22 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for ON in the last twelve months. There is currently 1 sell rating, 4 hold ratings, 15 buy ratings and 2 strong buy ratings 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 56.49% based on their 12-month stock forecasts.

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

ON has been rated by research analysts at Barclays, Evercore, Guggenheim, KeyCorp, Needham & Company LLC, Raymond James Financial, Telsey Advisory Group, Truist Financial, and Weiss Ratings in the past 90 days.

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

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This page (NYSE:ONON) was last updated on 6/23/2026 by MarketBeat.com Staff.

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ON (ONON) Stock Forecast & Price Target