Goldman Sachs lowers On Holding stock price target on margin view
Goldman Sachs reduced its price target for On Holding AG (NYSE:ONON) to $41 from $44, citing Q3 2026 results. The company reported 17.8% sales growth, 21.9% adjusted EBITDA margins, and $931.4M revenue, beating estimates. Goldman maintains a Buy rating, noting growth opportunities in 2027. Truist Securities also reiterated a Buy rating with a $40 target, highlighting strong Americas performance but softer Asia-Pacific trends.
How this was made
The 30-second read
Why it matters
The earnings beat and margin expansion were offset by a lower price target, creating mixed signals for traders.
Market read
Earnings release provides fresh data; analyst target cut creates short‑term downside bias.
What to watch
Inventory health and upcoming product launches may sustain growth.
Background
On Holding AG reported Q3 2026 earnings that beat revenue and EPS estimates, prompting analyst target revisions.
Ticker impact
Goldman Sachs cut ONON price target to $41 on Q3 2026 earnings showing 17.8% sales growth and margin expansion.
likely pressure as the market prices in the lower target.
Analyst downgrade with specific price target provides a clear actionable signal.
Market effects
Sportswear sector may see modest re‑rating as margins improve.
European markets could react to the earnings beat.
Limited to apparel and consumer discretionary investors.
Counterpoint
Despite the target cut, strong margin expansion could support a bounce.
Key entities
- AnalystGoldman Sachs
Reduced ONON price target to $41.
- AnalystTruist Securities
Maintained Buy rating with $40 target.
