ONON
On Holding AG
September 22, 2026 · pre-market open
- Rarity
- 2.83
- Peak move
- +13.84%
- Float cap
- $6.1B
On Holding AG designs, engineers, and sells premium footwear, apparel, and accessories for running, outdoor, training, tennis, and everyday activities. Its products are sold globally through wholesale partners such as run specialty, sporting goods, outdoor, luxury, and street fashion retailers, as well as through direct-to-consumer e-commerce and owned retail stores. The company markets to athletes and active consumers in the Americas, EMEA, and Asia-Pacific.
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What we found
15 events · 3 from SEC or newswire · 0 timed with the move- Key event
guidance_changeOn Holding reiterated its FY2026 guidance for low-20% constant-currency net sales growth, gross margin of at least 65% and adjusted EBITDA margin of 19.5%-20.0%, and guided Q3 2026 constant-currency net sales growth of about 17%.
- Key event
buybackOn Holding's board authorized the company's first share repurchase programme of up to $1 billion of Class A ordinary shares, running through December 31, 2029.
- Key event
investor_dayOn Holding held its Investor Day in Zurich and set 2029 targets including high-teens constant-currency net sales CAGR, at least CHF 5.6 billion net sales, at least 65% gross margin and at least 22% adjusted EBITDA margin, while reiterating FY2026 guidance.
SEC6-K 0001858985-26-000021Webpress.on-running.comWeblive.euronext.comWebedgen.techWebau.investing.comWebreuters.com board_changeOn Holding appointed Laura Miele, a board and audit committee member since 2024 and President of Enterprise Development at Electronic Arts, as Lead Independent Director effective September 21, 2026.
analyst_ratingStifel reiterated a Buy rating and $41.00 price target on On Holding after the 2029 targets and $1 billion buyback, noting the Q3 constant-currency growth outlook of about 17% was above its prior estimate.
analyst_ratingGoldman Sachs reiterated a Buy rating and $42.00 price target on On Holding after its 2029 targets, with analyst Richard Edwards putting implied 2029 EBITDA at CHF 1.232 billion, about 3% above consensus.
analyst_ratingTelsey Advisory Group maintained a Buy rating on On Holding with a $43 price target on September 21, 2026.
analyst_ratingJefferies analyst Randal Konik maintained a Sell rating on On Holding with a $20 price target, citing rising spending needs and football execution risk from the Kylian Mbappé partnership.
executive_appointmentOn Holding named Thierry Henry, who had worked on product strategy since late 2025 and helped recruit Kylian Mbappé, as Director of Football, and Sydney Schertenleib expanded her ambassador role to women's football products.
analyst_ratingWilliams Trading cut its On Holding price target to $27 from $32 with a Hold rating, warning the FY2026 revenue target could be at risk, while Bank of America trimmed its target to $43 from $46 keeping Buy.
product_launchOn Holding signed Real Madrid striker Kylian Mbappé, 27, as global ambassador and product development partner with an equity stake, marking its entry into football, with first football boots planned for 2027.
analyst_ratingBMO Capital reiterated a Market Perform rating and $28 price target on On Holding after the Kylian Mbappé signing, estimating global football could add $375 million to $400 million in annual revenue by FY2031.
analyst_ratingEvercore ISI maintained an Outperform rating with a $40 price target on On Holding, calling the entry into football following the Mbappé and Henry partnerships a potential near-term catalyst.
analyst_ratingNeedham & Company reiterated a Buy rating on On Holding with a $37.00 price target on September 18, 2026.
analyst_ratingMorgan Stanley resumed coverage of sportswear brands, naming On Holding its only Overweight with a $39 price target while rating Nike and Under Armour Underweight and Adidas Equal-weight.