Raymond James slashes price target on On Holding AG [ONON] – find out why.

On Holding AG [NYSE: ONON] loss -5.36% on the last trading session, reaching $50.36 price per share at the time.

On Holding AG represents 291.58 million in outstanding shares, while the company has a total market value of $16.31 billion with the latest information. ONON stock price has been found in the range of $50.1 to $52.77.

If compared to the average trading volume of 4.93M shares, ONON reached a trading volume of 7060262 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about On Holding AG [ONON]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ONON shares is $67.03 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ONON stock is a recommendation set at 1.37. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Raymond James have made an estimate for On Holding AG shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 22, 2025. While these analysts kept the previous recommendation, Telsey Advisory Group dropped their target price from $67 to $65. The new note on the price target was released on May 07, 2025, representing the official price target for On Holding AG stock. Previously, the target price had yet another raise to $60, while Citigroup analysts kept a Buy rating on ONON stock.

The Price to Book ratio for the last quarter was 9.97, with the Price to Cash per share for the same quarter was set at 3.04. Price to Free Cash Flow for ONON in the course of the last twelve months was 42.33 with Quick ratio for the last quarter at 2.18.

Trading performance analysis for ONON stock

On Holding AG [ONON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.80. With this latest performance, ONON shares dropped by -4.39% in over the last four-week period, additionally sinking by -13.14% over the last 6 months – not to mention a drop of -8.05% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ONON stock in for the last two-week period is set at 38.04, with the RSI for the last a single of trading hit 1.84, and the three-weeks RSI is set at 1.84 for On Holding AG [ONON]. The present Moving Average for the last 50 days of trading for this stock 55.17, while it was recorded at 52.76 for the last single week of trading, and 52.26 for the last 200 days.

On Holding AG [ONON]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and On Holding AG [ONON] shares currently have an operating margin of 9.87% and a Gross Margin at 60.63%. On Holding AG’s Net Margin is presently recorded at 8.19%.

On Holding AG (ONON) Capital Structure & Debt Analysis

According to recent financial data for On Holding AG. ( ONON), the Return on Equity (ROE) stands at 15.84%, reflecting robust shareholder value creation. The Return on Assets (ROA) is 9.71%, reflecting the company’s efficiency in generating profits from its assets. Additionally, On Holding AG’s Return on Invested Capital (ROIC) is 11.93%, showcasing its effectiveness in deploying capital for earnings.

On Holding AG (ONON) Efficiency & Liquidity Metrics

Based on On Holding AG’s (ONON) latest financial statements, the Debt-to-Equity Ratio is 0.27%, indicating its reliance on debt financing relative to shareholder equity.

On Holding AG (ONON) Efficiency & Liquidity Metrics

From an operational efficiency perspective, On Holding AG. (ONON) effectively leverages its workforce, generating an average of $72049.78 per employee. The company’s liquidity position is robust, with a Current Ratio of 2.80% and a Quick Ratio of 2.18%, indicating strong ability to cover short-term liabilities.

On Holding AG [ONON]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ONON. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for On Holding AG go to 17.66%.

An analysis of Institutional ownership at On Holding AG [ONON]

There are presently around $63.38%, or 81.49% of ONON stock, in the hands of institutional investors. The top three institutional holders of ONON stocks are: FMR LLC with ownership of 28.42 million shares, which is approximately 8.6835%. MORGAN STANLEY, holding 19.64 million shares of the stock with an approximate value of $$761.89 million in ONON stocks shares; and MORGAN STANLEY, currently with $$433.6 million in ONON stock with ownership which is approximately 3.4143%.

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