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

ON (NYSE:ONON) had its price target lowered by equities researchers at Guggenheim from $59.00 to $51.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Guggenheim’s price objective points to a potential upside of 17.73% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Williams Trading lowered ON from a “buy” rating to a “hold” rating and dropped their target price for the company from $55.00 to $47.00 in a report on Thursday, January 8th. Zacks Research upgraded shares of ON from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 10th. Truist Financial dropped their price objective on shares of ON from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday. TD Cowen raised their target price on shares of ON from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, UBS Group reaffirmed a “buy” rating on shares of ON in a report on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $59.41.

ON Trading Up 0.2%

NYSE ONON opened at $43.32 on Wednesday. The firm’s fifty day moving average is $46.18 and its two-hundred day moving average is $44.41. ON has a one year low of $34.38 and a one year high of $61.29. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.05 and a current ratio of 2.71. The firm has a market cap of $27.20 billion, a PE ratio of 60.17, a P/E/G ratio of 1.29 and a beta of 2.14.

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

Institutional Inflows and Outflows

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