ON’s (ONON) “Outperform” Rating Reaffirmed at Telsey Advisory Group

Posted by Defense World Staff on Mar 4th, 2026

Telsey Advisory Group reiterated their outperform rating on shares of ON (NYSE:ONON – Free Report) in a research note published on Tuesday morning,Benzinga reports. Telsey Advisory Group currently has a $65.00 price objective on the stock.

A number of other research firms have also recently weighed in on ONON. The Goldman Sachs Group raised their price target on ON from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Morgan Stanley upped their price target on ON from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Piper Sandler reissued an “overweight” rating on shares of ON in a report on Friday, December 5th. Truist Financial lowered their target price on shares of ON from $69.00 to $60.00 and set a “buy” rating for the company in a report on Monday, November 10th. Finally, BTIG Research reiterated a “buy” rating and set a $70.00 price target on shares of ON in a research note on Thursday, January 29th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, ON has a consensus rating of “Moderate Buy” and an average price target of $59.91.

View Our Latest Report on ONON

ON Price Performance

Shares of NYSE ONON opened at $43.88 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.55 and a quick ratio of 2.05. The company has a market cap of $27.55 billion, a price-to-earnings ratio of 56.98, a price-to-earnings-growth ratio of 1.39 and a beta of 2.14. The stock’s 50-day moving average is $46.30 and its two-hundred day moving average is $44.43. ON has a 1-year low of $34.38 and a 1-year high of $61.29.

ON (NYSE:ONON – Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.06. ON had a net margin of 7.45% and a return on equity of 14.81%. The firm had revenue of $937.29 million for the quarter, compared to analyst estimates of $727.55 million. During the same period in the prior year, the firm earned $0.33 earnings per share. The business’s quarterly revenue was up 22.6% compared to the same quarter last year. Analysts forecast that ON will post 0.66 EPS for the current fiscal year.

Institutional Trading of ON

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cullen Frost Bankers Inc. grew its stake in shares of ON by 639.7% in the 4th quarter. Cullen Frost Bankers Inc. now owns 540 shares of the company’s stock valued at $25,000 after purchasing an additional 467 shares during the last quarter. Caitlin John LLC acquired a new stake in shares of ON during the fourth quarter worth $25,000. MidAtlantic Capital Management Inc. purchased a new position in ON in the 4th quarter valued at $27,000. Caitong International Asset Management Co. Ltd increased its stake in ON by 555.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 701 shares of the company’s stock valued at $33,000 after buying an additional 594 shares during the period. Finally, TD Private Client Wealth LLC raised its position in ON by 109.9% during the 4th quarter. TD Private Client Wealth LLC now owns 804 shares of the company’s stock worth $37,000 after buying an additional 421 shares during the last quarter. 36.39% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting ON

Here are the key news stories impacting ON this week:

Positive Sentiment: Q4 beat on both EPS and revenue with revenue up ~22.6% year-over-year; strong margins and profitability improvements were highlighted. On Holding (ONON) Q4 Earnings and Revenues Top Estimates
Positive Sentiment: On reported full‑year 2025 sales above CHF 3.0 billion and record-high margins — evidence of continued brand/consumer strength. On Holding Tops CHF 3 Billion in 2025 Sales
Positive Sentiment: Sell‑side bullishness remains — analysts’ consensus price targets imply meaningful upside and Telsey reaffirmed an “outperform” with a $65 target. Wall Street Analysts See a 28.36% Upside in On Holding (ONON)
Positive Sentiment: Unusually large call option activity and a surge in option volume indicate strong speculative/bullish interest among traders. On Holding (NYSE:ONON) NYSE Composite Sees Call Surge
Neutral Sentiment: Earnings call transcript and company filings provide management color on demand, channel dynamics and margin drivers — useful for modeling FY26 assumptions. On Holding AG (ONON) Q4 2025 Earnings Call Transcript
Neutral Sentiment: Company press release / Form 20‑F filing summarizing results and disclosures. On Announces Fourth Quarter and Full Year Results
Negative Sentiment: FY2026 revenue guidance (~$4.3B) below consensus (~$4.6B) — the guidance shortfall is the primary catalyst cited by media and analysts for today’s decline. On Holdings’ shares crater as FY26 sales guidance spooks investors
Negative Sentiment: Broader headlines and coverage describe a sharp intraday selloff on weak guidance (reports note declines as large as ~14% in related coverage). Swiss sneaker maker plunges 14% on weak guidance
Negative Sentiment: Rising commodity/energy prices (crude near two‑year highs) are a macro cost risk that could pressure margins if sustained. Crude Oil Prices Close to 2-Year High

ON Company Profile

(Get Free Report)

On Holding AG, commonly known as On, is a Swiss performance footwear and apparel company headquartered in Zurich. Founded in 2010, the company designs, develops and sells running shoes, performance apparel and accessories for road, trail and everyday use. On’s product philosophy centers on engineered cushioning and responsiveness intended to serve both serious athletes and lifestyle consumers.

On is best known for its proprietary midsole technology and distinctive sole architecture, marketed under names such as the Cloud family of shoes and related performance lines.