ONONConsumer Cyclical · Footwear & AccessoriesThe 31 Wall Street analysts covering On Holding AG hold a median 12-month price target of $41 — +51.2% from the last close. Ticker Nerd's systematic factor model, run across ~4,600 US stocks, ranks it 31 of 100 as at 17 Sept 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 (12): The shares have been drifting down relative to others.
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 +51.2% from it.
Of the 20 most recent actions, 0 moved their price target up and 9 moved it down.
| Date | Firm | Action | Rating | Target |
|---|---|---|---|---|
| 17 Sept 2026 | B of A Securities | Maintains | Buy | $46 → $43 |
| 16 Sept 2026 | BTIG | Reiterates | Buy | $60 |
| 10 Sept 2026 | Morgan Stanley | Reinstates | Overweight | $39 |
| 9 Sept 2026 | BMO Capital | Initiates | Market Perform | $28 |
| 12 Aug 2026 | Baird | Maintains | Outperform | $70 → $55 |
| 12 Aug 2026 | Baird | Maintains | Outperform | — |
| 12 Aug 2026 | Barclays | Maintains | Overweight | — |
| 12 Aug 2026 | Barclays | Maintains | Overweight | $46 → $42 |
| 12 Aug 2026 | Evercore ISI Group | Maintains | Outperform | — |
| 12 Aug 2026 | Evercore ISI Group | Maintains | Outperform | $46 → $40 |
| 12 Aug 2026 | Raymond James | Downgrade | Outperform | $52 → $38 |
| 12 Aug 2026 | Raymond James | Downgrade | Outperform | — |
| 12 Aug 2026 | Stifel | Maintains | Buy | — |
| 12 Aug 2026 | Stifel | Maintains | Buy | $60 → $41 |
| 12 Aug 2026 | Telsey Advisory Group | Maintains | Outperform | $51 → $43 |
| 12 Aug 2026 | Telsey Advisory Group | Maintains | Outperform | — |
| 12 Aug 2026 | Truist Securities | Maintains | Buy | — |
| 12 Aug 2026 | Truist Securities | Maintains | Buy | $48 → $40 |
| 12 Aug 2026 | UBS | Maintains | Buy | $83 → $73 |
| 12 Aug 2026 | UBS | Maintains | Buy | — |
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 17 Sept 2026, On Holding AG returned −37.7% against +17.0% for the S&P 500, dividends included.
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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 39% of US stocks
Cheaper than 43% of US stocks
Cheaper than 25% of US stocks
Cheaper than 18% 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
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 $9.1B and an enterprise value of $10.2B.
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: 19.0×; forward P/E: 13.6× — the forward figure prices analyst consensus estimates, not reported 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's stock has fallen 30% over the past three months, a decline the article attributes to weak Americas wholesale trends and restrained sell-in, despite a record direct-to-consumer mix and new product launches.
Why it matters — ONON watchers would care because the drop flags softer wholesale demand in the Americas even as the company's DTC channel performs strongly.
On Holding AG shares fell 2.6% to $26.44, extending a recent decline and trading near two-year lows. The stock was highlighted among put options traders are targeting today.
Why it matters — The continued slide to two-year lows signals sustained weakness and heightened options-market interest in the footwear maker.
MarketBeat highlights luxury consumer brands worth watching, noting that while broader retail has struggled as consumers tightened spending, some high-end luxury brands have largely avoided these pitfalls. These brands face the challenge of balancing exclusivity, quality perception amid higher materials costs and inflation, and price increases against customer tolerance.
Why it matters — ONON watchers would care because On Holding operates in the premium athletic/lifestyle space, and this piece illustrates the broader market conditions and consumer dynamics that high-end brands must navigate.
The Baron International Growth Fund reported a 14.05% gain for the second quarter of 2026, slightly trailing its MSCI ACWI ex USA benchmark's 14.49% return. During the quarter, the fund added new investments, increased some existing positions, and exited others to concentrate in higher-conviction holdings.
Why it matters — This fund update indicates possible changes in its holdings that could affect institutional ownership and share-price dynamics for On Holding, if the fund holds any position in the company.
On Holding's apparel sales rose 47.7% in Q2 2026, driven by strength in tennis, running, and direct-to-consumer channels. This growth broadens the company's opportunities beyond footwear and strengthens its connection with consumers.
Why it matters — For ONON watchers, the strong apparel growth signals successful diversification beyond footwear, reducing reliance on a single category and deepening consumer engagement.
The 31 Wall Street analysts covering On Holding AG have a median 12-month price target of $41, with estimates ranging from $19 to $72. 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 31 out of 100 across roughly 4,600 US stocks as at 17 Sept 2026. None of this is personal advice — it does not consider your circumstances.
As at 17 Sept 2026, On Holding AG ranks 31 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 +51.2% from the last close, and Ticker Nerd's factor model ranks On Holding AG 31 out of 100 as at 17 Sept 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: $19 to $72 over the next 12 months.
On Holding AG returned -37.7% over the 12 months to 17 Sept 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, 17 Sept 2026): "On Holding Stock Falls 30% in Three Months: Time to Buy or Stay Away?". On Holding's stock has fallen 30% over the past three months, a decline the article attributes to weak Americas wholesale trends and restrained sell-in, despite a record direct-to-consumer mix and new product launches.
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
