Recent Research Analysts’ Ratings Changes for ON (ONON)

Several brokerages have updated their recommendations and price targets on shares of ON (NYSE: ONON) in the last few weeks:

• 11/4/2026 – ON is now covered by Wells Fargo & Company. They set an “overweight” rating and a $48.00 price target on the stock.
• 11/3/2026 – ON was upgraded by Cantor Fitzgerald to “buy”.
• 11/3/2026 – ON had its “buy” rating reaffirmed by BTIG Research. They now have a $60.00 price target on the stock.
• 10/28/2026 – ON had its “market perform” rating reaffirmed by BMO Capital Markets. They now have a $35.00 price target on the stock.
• 10/21/2026 – ON is now covered by Wolfe Research. They set an “outperform” rating and a $47.00 price target on the stock.
• 10/21/2026 – ON is now covered by Wolfe Research. They set an “outperform” rating and a $47.00 price target on the stock.
• 10/20/2026 – ON had its “underperform” rating reaffirmed by Jefferies Financial Group.
• 10/16/2026 – ON had its price target raised by Raymond James Financial from $38.00 to $42.00. They now have an “outperform” rating on the stock.
• 10/12/2026 – ON was upgraded by Zacks Research from “strong sell” to “hold”.
• 10/8/2026 – ON was upgraded by Weiss Ratings from “hold (c-)” to “hold (c)”.
• 10/1/2026 – ON had its price target raised by JPMorgan Chase & Co. from $41.00 to $44.00. They now have an “overweight” rating on the stock.
• 9/28/2026 – ON had its “overweight” rating reaffirmed by KeyCorp.
• 9/28/2026 – ON was given a new $37.00 price target by KeyCorp.
• 9/24/2026 – ON had its “overweight” rating reaffirmed by Piper Sandler. They now have a $45.00 price target on the stock.
• 9/24/2026 – ON had its “outperform” rating reaffirmed by Sanford C. Bernstein.
• 9/24/2026 – ON had its price target raised by BMO Capital Markets from $28.00 to $33.00. They now have a “market perform” rating on the stock.
• 9/24/2026 – ON had its price target raised by Barclays from $42.00 to $44.00. They now have an “overweight” rating on the stock.
• 9/23/2026 – ON had its “buy” rating reaffirmed by UBS Group.
• 9/23/2026 – ON had its “buy” rating reaffirmed by Citigroup.
• 9/23/2026 – ON had its price target raised by Needham & Company LLC from $37.00 to $40.00. They now have a “buy” rating on the stock.
• 9/23/2026 – ON had its “buy” rating reaffirmed by BTIG Research. They now have a $60.00 price target on the stock.
• 9/22/2026 – ON had its “buy” rating reaffirmed by The Goldman Sachs Group.
• 9/18/2026 – ON had its “underperform” rating reaffirmed by Jefferies Financial Group.
• 9/18/2026 – ON had its “market perform” rating reaffirmed by BMO Capital Markets.
• 9/18/2026 – ON had its “buy” rating reaffirmed by Needham & Company LLC. They now have a $40.00 price target on the stock, up from $37.00.
• 9/17/2026 – ON had its price target lowered by Bank of America from $46.00 to $43.00. They now have a “buy” rating on the stock.
• 9/16/2026 – ON had its “buy” rating reaffirmed by BTIG Research. They now have a $60.00 price target on the stock.
• 9/14/2026 – ON was given a new $38.00 price target by Berenberg Bank.
• 9/14/2026 – ON was upgraded by Berenberg Bank to “strong-buy”.
• 9/11/2026 – ON was given a new $42.00 price target by Guggenheim.
• 9/10/2026 – ON is now covered by Morgan Stanley. They set an “overweight” rating and a $39.00 price target on the stock.
• 9/8/2026 – ON is now covered by BMO Capital Markets. They set a “market perform” rating and a $28.00 price target on the stock.
• 9/8/2026 – ON was given a new $28.00 price target by Capital One Financial.
• 9/8/2026 – ON is now covered by BMO Capital Markets. They set a “market perform” rating and a $28.00 price target on the stock.
• 9/8/2026 – ON was downgraded by Weiss Ratings from “hold (c)” to “hold (c-)”.
• 9/8/2026 – ON was upgraded by BMO Capital Markets to “hold”.

ON Stock Performance

NYSE:ONON traded down $0.17 during trading hours on Friday, reaching $37.37. The stock had a trading volume of 7,251,433 shares, compared to its average volume of 7,246,355. The stock has a market cap of $23.85 billion, a P/E ratio of 25.42, a price-to-earnings-growth ratio of 0.76 and a beta of 2.05. The stock has a 50 day simple moving average of $31.33 and a 200 day simple moving average of $36.55. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.25 and a current ratio of 2.83. On Holding AG has a 12-month low of $26.36 and a 12-month high of $51.08.

ON (NYSE:ONON) last issued its quarterly earnings results on Tuesday, August 11th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.07). The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.09 billion. ON had a net margin of 12.09% and a return on equity of 22.92%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.09) EPS. On average, research analysts forecast that On Holding AG will post 1.50 EPS for the current fiscal year.

Insider Activity

In other ON news, insider Olivier Bernhard bought 65,000 shares of ON stock in a transaction dated Friday, August 14th. The stock was purchased at an average price of $30.67 per share, for a total transaction of $1,993,550.00. Following the completion of the purchase, the insider directly owned 5,228,184 shares of the company’s stock, valued at approximately $160,348,403.28. This trade represents a 1.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Caspar Coppetti purchased 65,000 shares of the stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $30.67 per share, for a total transaction of $1,993,550.00. Following the transaction, the chief executive officer owned 2,440,855 shares of the company’s stock, valued at approximately $74,861,022.85. This trade represents a 2.74% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 68.57% of the stock is owned by corporate insiders.

On Holding AG, commonly known as On, is a Swiss sportswear company that develops and sells performance footwear, apparel and accessories. The company serves athletes and everyday consumers with products designed for running, training, outdoor activities and lifestyle use.

On is best known for its running shoes, which incorporate proprietary technologies such as CloudTec cushioning and the Speedboard propulsion system. Its product portfolio also includes athletic clothing, outerwear and accessories.