On Holding's premium footwear brand demonstrates strong earnings momentum and wide-moat business quality, but near-term technical weakness from a confirmed downtrend warrants caution before adding new positions.
Thesis pillars
- Moat Quality Profile→Stable
- Earnings Beat Streak→Stable
- Analyst Upside Sentiment↑Improving
- +2 more pillars — see the Why tab for full reasoning
Pillars as of Jul 3, 2026· older than 90 days
On Holding AG (ONON) Stock Analysis
Momentum Cont setup
Consumer Cyclical · Footwear & Accessories
Hold if already holding. Not a fresh buy at $38.62, but acceptable to hold if already in. Reasons: Thin upside margin: 5.5%; Sector modifier (Consumer Cyclical): -1.5.
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic... Read more
Hold if already holding. Not a fresh buy at $38.62, but acceptable to hold if already in. Reasons: Thin upside margin: 5.5%; Sector modifier (Consumer Cyclical): -1.5. Chart setup: Trend continuation, RSI 64, MACD bullish. Multiple concerning factors. Consider reducing position. | News modifier +1 (SELL_IF_HOLDING → HOLD_IF_HOLDING) Score 6.4/10, moderate confidence.
Passes 7/10 gates (positive momentum, clean insider activity, positive momentum, no SEC red flags, news boost analyst cluster(5), semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 5d<=7d. Suitability: aggressive.
Recent developments
updated Nov 4, 2026Recent Developments — On Holding AG
Latest news
- NEWS This Lockheed Martin Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Wednesday — benzinga Nov 4, 2026 positive
- NEWS Is On Holding AG (ONON) a Bargain After 3.4% Drop? GF Value Says Undervalued - GuruFocus — GuruFocus Oct 21, 2026 positive
- NEWS On Holding (ONON) Stock Dips While Market Gains: Key Facts - Yahoo Finance — Yahoo Finance Oct 21, 2026 negative
- NEWS ONON slips as bearish analyst call adds to lingering concerns over growth and valuation - Quiver Quantitative — Quiver Quantitative Oct 21, 2026 negative
- NEWS On Holding's Quality And Brand Strengths Are Worth Buying (NYSE:ONON) - Seeking Alpha — Seeking Alpha Oct 21, 2026 positive
Latest item Nov 4, 2026 · Generated 2026-11-05T11:34:08Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $38.62, but acceptable to hold if already in. Reasons: Thin upside margin: 5.5%; Sector modifier (Consumer Cyclical): -1.5. Chart setup: Trend continuation, RSI 64, MACD bullish. Multiple concerning factors. Consider reducing position. | News modifier +1 (SELL_IF_HOLDING → HOLD_IF_HOLDING) Analyst target $40.76 (+5.5%), stop $35.92 (−7.5%), A.R:R 0.4:1. Score 6.4/10, moderate confidence.
Analyst target: $40.76 (+5.5% upside). Analyst target $40.76 (+5.5%), stop $35.92 (−7.5%), A.R:R 0.4:1. Stop-loss: $35.92.
Thin upside margin: 5.5%; Sector modifier (Consumer Cyclical): -1.5; Earnings in 5 days (event risk).
On Holding AG trades at a P/E of 25.7 (forward 18.7). TrendMatrix value score: 6.1/10. Verdict: Hold.
38 analysts rate ONON, with a consensus score of 4.0/5. 30 analysts publish price targets averaging $44.
What does On Holding AG do?On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand...
On Holding AG, together with its subsidiaries, develops and distributes performance sports products under the On brand in Switzerland, the rest of Europe, the Middle East, Africa, the United States, the rest of the Americas, and the Asia-Pacific. The company offers athletic footwear, apparel, and accessories for performance running, performance outdoor, performance all day, performance training, performance tennis, and young movers. It sells its products to athletes and active customers through wholesale and direct-to-consumer channels; run specialty, general sporting goods, outdoor, luxury, street fashion, and lifestyle retailers; owned retail stores; and e-commerce platforms. On Holding AG was founded in 2010 and is headquartered in Zurich, Switzerland.