Barclays Issues Pessimistic Forecast for ON (NYSE:ONON) Stock Price

ON (NYSE:ONON) had its price objective decreased by equities researchers at Barclays from $60.00 to $57.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 31.58% from the stock’s current price.

Several other equities analysts have also weighed in on the company. UBS Group restated a “buy” rating on shares of ON in a research note on Thursday, February 19th. Jefferies Financial Group restated an “underperform” rating and issued a $31.00 price objective on shares of ON in a research report on Wednesday, November 12th. Singular Research raised ON to a “strong-buy” rating in a research note on Monday, November 17th. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 price target on shares of ON in a research note on Tuesday. Finally, The Goldman Sachs Group boosted their price target on shares of ON from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, ON currently has a consensus rating of “Moderate Buy” and an average target price of $59.41.

ON Price Performance

Shares of NYSE ONON opened at $43.32 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.71 and a quick ratio of 2.05. The stock has a market capitalization of $27.20 billion, a price-to-earnings ratio of 60.17, a PEG ratio of 1.29 and a beta of 2.14. The firm’s 50 day simple moving average is $46.18 and its 200-day simple moving average is $44.41. ON has a 12 month low of $34.38 and a 12 month high of $61.29.

ON (NYSE:ONON) last posted its earnings results on Tuesday, March 3rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.06. The firm had revenue of $937.29 million during the quarter, compared to analysts’ expectations of $727.55 million. ON had a net margin of 6.59% and a return on equity of 13.25%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. Analysts expect that ON will post 0.66 EPS for the current year.

Institutional Inflows and Outflows

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

Key Headlines Impacting ON

Here are the key news stories impacting ON this week:

• Positive Sentiment: Q4 beat on both EPS and sales — On reported stronger-than-expected quarterly results (EPS above estimates) and record sales, underpinning the bullish near-term narrative. Q4 2025 Earnings Call Transcript
• Positive Sentiment: Broad-based growth and margin tailwinds — revenue and unit growth were strong across DTC, wholesale and apparel/accessories (APAC especially robust); MarketBeat notes record gross margins and accelerating EBITDA. Institutional accumulation is also rising, which supports a durable recovery thesis. After Cooling Off, On Holding May Be Ready to Sprint Higher
• Positive Sentiment: Analyst support remains — Telsey reiterated an Outperform, signaling continued analyst conviction in On’s growth runway despite the guidance conservatism. Telsey Reiterates Outperform
• Neutral Sentiment: Price-target trims but ratings intact — Barclays lowered its PT to $57 while keeping an Overweight rating; the downgrade trims upside but preserves a bullish stance. Barclays Lowers PT
• Neutral Sentiment: Guggenheim also cut its target to $51 but maintained a Buy — another vote of confidence even as near-term expectations were softened. Guggenheim Lowers PT
• Negative Sentiment: Conservative 2026 guidance and margin trade-offs — management set a cautious FY26 outlook and is prioritizing growth investments, which, combined with FX headwinds, pressured net income margins and triggered the initial sell-off. On Holding Pours Into Growth As Record Sales Meet Margin Trade Offs
• Negative Sentiment: Near-term volatility risk — the guidance-led pullback highlighted execution and margin risk; sentiment could remain choppy until Q1 results and clearer FX/SG&A cadence emerge (Q1 earnings in mid‑May is the next key catalyst). MarketBeat Analysis

ON Company Profile

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.