Shared on 18 Dec 25

Fair value Increased 1.10%

ONON: Beat And Raise Execution Will Support Premium Multiple Ahead

Analysts have nudged our fair value estimate for On Holding modestly higher to approximately $62 from about $61, reflecting slightly stronger long term revenue growth expectations, a marginally lower discount rate, and confidence in the company’s ability to sustain premium valuation multiples despite mixed but generally constructive changes in Street price targets. Analyst Commentary Street research following the Q3 report reflects a generally constructive stance on On Holding, with most firms acknowledging strong execution, durable growth, and robust brand momentum, even as some temper price targets to better reflect sector wide multiple compression and competitive risk.

Shared on 04 Dec 25

Fair value Increased 0.18%

ONON: Margin Momentum And Beat And Raise Execution Will Drive Future Upside

Analysts have nudged our fair value estimate for On Holding slightly higher to approximately $61 per share. This reflects a blend of raised and trimmed Street price targets as they highlight continued beat and raise execution, improving margin visibility and robust global demand, partially offset by valuation and broader market concerns.

Shared on 20 Nov 25

Fair value Decreased 1.60%

ONON: Margin Gains And Execution Will Boost Future Performance Despite Sector Headwinds

Analysts have slightly reduced their average price target for On Holding by about $1 to approximately $61. Strong third quarter performance and ongoing margin improvements are balanced by cautious valuation adjustments and heightened competitive risks in the sector.

Shared on 05 Nov 25

Fair value Decreased 4.84%

ONON: Continued Execution Will Drive Future Share Price Upside Amid Increased Competition

The consensus analyst price target for On Holding has decreased from $65.45 to $62.29. Analysts cite heightened competition in footwear, sector valuation adjustments, and risks related to product diversification and the growth rate outlook.

Shared on 22 Oct 25

Fair value Decreased 0.89%

Analysts have modestly reduced their price target for On Holding, reflecting a decrease from $66.04 to $65.45. This adjustment comes as they weigh heightened competition, sector valuation shifts, and evolving growth dynamics in key markets.

Shared on 08 Oct 25

Fair value Decreased 1.08%

The analyst price target for On Holding was revised downward by $0.72 to $66.04. Analysts cite concerns about slower growth and increased competition, even as strong performance continues.

Shared on 19 Sep 25

Fair value Increased 1.37%

On Holding's consensus price target was modestly raised to $66.76 as analysts reflected optimism about sustained earnings outperformance and prudent guidance, though some remain cautious about potential growth deceleration and market limitations, resulting in only a slight upward revision in fair value. Analyst Commentary Bullish analysts expect multiple expansion as the company continues to deliver beat-and-raise earnings reports.

Shared on 04 Sep 25

Analysts remain divided on On Holding's outlook, with bullish sentiment driven by consistent revenue and earnings beats fueling optimism for valuation upside, while bearish concerns focus on slowing U.S. growth and market saturation risks, resulting in an unchanged consensus price target of $65.86. Analyst Commentary Bullish analysts see potential for On's valuation multiple to expand as the company consistently delivers revenue and earnings beats alongside upward guidance revisions.

Shared on 01 May 25

Fair value Decreased 4.87%

Shared on 23 Apr 25

Fair value Increased 0.79%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 17 Apr 25

Fair value Decreased 5.66%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 09 Apr 25

Fair value Increased 11%

AnalystConsensusTarget has decreased shares outstanding growth rate from 0.0% to 0.0%.

Shared on 02 Apr 25

Fair value Increased 0.82%

AnalystConsensusTarget has increased shares outstanding growth rate from 0.0% to 0.0%.

Shared on 26 Mar 25

Fair value Increased 0.88%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 19 Mar 25

Fair value Decreased 5.73%

AnalystConsensusTarget made no meaningful changes to valuation assumptions.

Shared on 12 Mar 25

Fair value Increased 29%

Analyst Commentary Reveals Mixed Views as On Holding Adjusts Guidance and Targets

ONON: Beat And Raise Execution Will Support Premium Multiple Ahead

ONON: Margin Momentum And Beat And Raise Execution Will Drive Future Upside

ONON: Margin Gains And Execution Will Boost Future Performance Despite Sector Headwinds

ONON: Continued Execution Will Drive Future Share Price Upside Amid Increased Competition

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