ONONConsumer Cyclical · Footwear & AccessoriesThe 31 Wall Street analysts covering On Holding AG hold a median 12-month price target of $42 — +22.7% from the last close. Ticker Nerd's systematic factor model, run across ~4,600 US stocks, ranks it 34 of 100 as at 7 Oct 2026 — in the lower half. The Street sees upside; the factor read is a caution. That gap is the story on this page.
Consensus tells you what everyone already believes. The model scores On Holding AG on its factor families — the same systematic rank behind the Ticker Nerd portfolio.
Percentile across ~4,600 US stocks on Ticker Nerd’s systematic factor model. Higher is better. How the model is built and tested
Quality (97): The business earns solid, repeatable profits on what it owns.
Momentum (25): The shares have been drifting down relative to others.
Size (14): Larger than most of the companies we track — more scrutinised, less often mispriced.
Built and run by Aslam Ghouse, an ex-Goldman Sachs quant trader with fourteen years in markets.
The bullish and bearish analyst opinions on ONON, reported as data — targets and ratings, the market's view beside the model's.
Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.
Data provided by Twelve Data
The green dot is the last close — the median target sits +22.7% from it.
Of the 20 most recent actions, 4 moved their price target up and 4 moved it down.
| Date | Firm | Action | Rating | Target |
|---|---|---|---|---|
| 1 Oct 2026 | JP Morgan | Maintains | Overweight | $41 → $44 |
| 24 Sept 2026 | Barclays | Maintains | Overweight | $42 → $44 |
| 24 Sept 2026 | BMO Capital | Maintains | Market Perform | $28 → $33 |
| 23 Sept 2026 | Needham | Maintains | Buy | — |
| 23 Sept 2026 | Needham | Maintains | Buy | $37 → $40 |
| 18 Sept 2026 | Needham | Reiterates | Buy | — |
| 18 Sept 2026 | Needham | Reiterates | Buy | $37 |
| 17 Sept 2026 | B of A Securities | Maintains | Buy | — |
| 17 Sept 2026 | B of A Securities | Maintains | Buy | $46 → $43 |
| 16 Sept 2026 | BTIG | Reiterates | Buy | $60 |
| 16 Sept 2026 | BTIG | Reiterates | Buy | — |
| 10 Sept 2026 | Morgan Stanley | Reinstates | Overweight | $39 |
| 9 Sept 2026 | BMO Capital | Initiates | Market Perform | — |
| 9 Sept 2026 | BMO Capital | Initiates | Market Perform | $28 |
| 12 Aug 2026 | Baird | Maintains | Outperform | — |
| 12 Aug 2026 | Baird | Maintains | Outperform | $70 → $55 |
| 12 Aug 2026 | Barclays | Maintains | Overweight | — |
| 12 Aug 2026 | Barclays | Maintains | Overweight | $46 → $42 |
| 12 Aug 2026 | Evercore ISI Group | Maintains | Outperform | $46 → $40 |
| 12 Aug 2026 | Evercore ISI Group | Maintains | Outperform | — |
Price targets and ratings are third-party analyst estimates, reported here as data. They are not Ticker Nerd forecasts, and they are frequently wrong.
Computed off the Friday close and sent before the US open.
Market Radar reports the week’s largest rank changes across roughly 4,600 US stocks, the factor behind each one, and where the market went. ONON appears on the weeks it earns a place.
Both lines are total return — dividends reinvested — so the comparison is honest on both sides.
Over the twelve months to 8 Oct 2026, On Holding AG returned −22.0% against +16.2% for the S&P 500, dividends included.
Download this chart as an image — free to reuse; link this page as the source.
Data provided by Twelve Data
Not the forecast itself — the direction analysts are revising it. Revision direction is one of the model's factor families.
A margin means little on its own. Each bar marks where the figure sits across the whole US universe we score.
Cheaper than 34% of US stocks
Cheaper than 35% of US stocks
Cheaper than 21% of US stocks
Cheaper than 14% of US stocks
Higher than 60% of US stocks
Higher than 81% of US stocks
Higher than 79% of US stocks
Higher than 71% of US stocks
Higher than 74% of US stocks
Higher than 84% of US stocks
Higher than 91% of US stocks
Higher than 1% of US dividend payers
Bars mark the percentile across the ~4,600 US stocks Ticker Nerd covers, among those reporting the figure.
The headline figures, each with its date. Every row carries its own link — cite it straight from here.
On Holding AG has a market value of $11.1B and an enterprise value of $12.5B.
Revenue in the twelve months to 30 June 2026: $3.2B. The latest quarter grew 13.5% year on year.
Net income over the same four quarters: $396.3M, a 12.3% net margin.
Diluted earnings per share, trailing twelve months: $1.19.
Free cash flow in the twelve months to 30 June 2026: $429.1M.
On Holding AG spent $0.0 on dividends in the twelve months to 30 June 2026.
Trailing P/E: 22.1×; forward P/E: 16.2× — the forward figure prices analyst consensus estimates, not reported earnings.
Forward dividend yield: 0.00%, paying out 0% of earnings.
On Holding AG employs 3,963 people — $813K of revenue per employee.
Data provided by Twelve Data
The nearest names by industry and size, scored by the same model — like for like.
Look up any of the roughly 4,600 stocks we score.
The rank is the raw material. Whether the rules would actually own On Holding AG — and when they’d sell — is the membership. See the Ticker Nerd 20 →
On Holding closed at $34.04 in the latest trading session, up 2.47% from the prior day, while the market dipped.
Why it matters — ONON watchers may note the stock's session gain amid a declining market.
On Holding (ONON) has recently attracted considerable attention from Zacks.com users. Zacks says investors should be aware of facts that could affect the stock’s prospects.
Why it matters — The item highlights recent user interest in ONON and points readers to factors that may affect its stock prospects.
On Holding (ONON) closed at $30.85 in the latest trading session, a +2.15% increase from the prior day. The stock surpassed broader market returns during the session.
Why it matters — A ONON watcher would note the stock's recent upward momentum and how it is outperforming the broader market, which may signal continued investor interest.
In its most recent trading session, On Holding (ONON) closed at $30.2, representing a +1.99% increase from the prior trading day. The stock outperformed the broader market in that session.
Why it matters — A ONON watcher would care because the session's price gain indicates the stock moved favorably relative to the broader market on that day.
On Holding's expansion of its premium stores is generating stronger foot traffic and direct-to-consumer growth, with both new and existing locations performing well globally, according to Zacks Investment Research.
Why it matters — The report indicates On Holding's retail strategy is effectively building closer connections with consumers while supporting its DTC channel.
The 31 Wall Street analysts covering On Holding AG have a median 12-month price target of $42, with estimates ranging from $20 to $71. These are third-party analyst estimates, not Ticker Nerd forecasts, and they are frequently wrong.
Of the 31 analysts covering On Holding AG, 25 rate it a Buy, 5 a Hold and 1 a Sell. Ticker Nerd's systematic factor model ranks On Holding AG 34 out of 100 across roughly 4,600 US stocks as at 7 Oct 2026. None of this is personal advice — it does not consider your circumstances.
As at 7 Oct 2026, On Holding AG ranks 34 out of 100 on Ticker Nerd's systematic factor model — a percentile across roughly 4,600 US stocks, built from its factor families. Its strongest factor family is Quality (97 of 100).
No one can know that. What the data says: the median 12-month target from 31 analysts implies +22.7% from the last close, and Ticker Nerd's factor model ranks On Holding AG 34 out of 100 as at 7 Oct 2026. Analyst targets are third-party estimates and frequently wrong; none of this is personal advice.
No analyst covering On Holding AG publishes a 2030 price target — Wall Street targets run 12 to 18 months out. Sites quoting a 2030 price for ONON are extrapolating price history, which says nothing about the business. The furthest attributed numbers are the current analyst targets: $20 to $71 over the next 12 months.
On Holding AG returned -22.0% over the 12 months to 8 Oct 2026, with dividends reinvested. Past performance does not indicate future returns.
On Holding AG Class A Ordinary Shares represents equity in On Holding AG, a Swiss performance sportswear company focused on athletic footwear, apparel, and accessories. The company develops products for running, outdoor activities, training, tennis, and everyday wear, serving consumers who look for performance-driven sports products with a design-led approach.
The most recent item we track (Zacks Investment Research, 8 Oct 2026): "On Holding (ONON) Gains As Market Dips: What You Should Know". On Holding closed at $34.04 in the latest trading session, up 2.47% from the prior day, while the market dipped.
On Holding AG Class A Ordinary Shares represents equity in On Holding AG, a Swiss performance sportswear company focused on athletic footwear, apparel, and accessories. The company develops products for running, outdoor activities, training, tennis, and everyday wear, serving consumers who look for performance-driven sports products with a design-led approach. On Holding AG distributes its products through a broad international network that includes independent retailers, global distributors, and direct-to-consumer channels, giving it a presence across major consumer markets. The business is centered on the On brand, which is positioned in the premium sportswear segment and is closely associated with innovation in footwear and apparel design. Based in Zurich, Switzerland, On Holding AG plays a visible role in the global athletic apparel market by combining performance-focused product lines with a multi-channel retail strategy.
CEO Mr. David Allemann · 3,963 employees · Switzerland · https://www.on.com
