$ONON

BMO Capital increased its price target for On Holding AG (NYSE:ONON) to $35.00, citing strong sales and earnings expectations. The company is anticipated to surpass third-quarter estimates, with a 17% constant currency growth guidance. BMO notes On Holding's strong fundamentals, including a 64.82% gross profit margin and a PEG ratio of 0.12. The stock is currently trading at $32.17, suggesting modest upside to the new target.

On Holding AG (ONON) stock fell 3.0% in pre-market trading after brand ambassador Kylian Mbappé faced controversy in China, leading to terminated sponsorships. Asia-Pacific is a key growth region for On. Jefferies reiterated its Underperform rating, citing high marketing costs and ambitious revenue targets. The stock is down 37% from its 52-week high. The broader market was up slightly.

On Holding (ONON) stock is down 23% this year after Q2 sales missed estimates, despite strong fundamentals. The company intentionally slowed wholesale shipments to focus on full-price sales and new products. Direct-to-consumer sales grew 34.3%, gross margin widened to 65.4%, and net apparel sales rose 56.2%. Management expects low-20% sales growth in 2026 and targets $7 billion in sales by expanding into football and golf.

On Holding (ONON) reports slowing sales growth, guided at 17% for Q3, down from 21.6% in Q2, due to deliberate reduction in wholesale sales to avoid discounting. Direct-to-consumer sales rose to 45.7% of Q2 net sales, boosting gross margin to 65.4%. Asia-Pacific sales grew 54.7%, and adjusted EBITDA increased 23.5%. Management emphasizes full-price sales over volume.

Jefferies reiterated an Underperform rating on On Holding (NYSE:ONON) with a $20 price target, citing rising marketing and selling expenses, and negative outlook for Americas business. The stock trades at $35.41, which some data suggests is undervalued. KeyBanc and BMO Capital maintain more positive outlooks with Overweight and Market Perform ratings, respectively.

On Holding AG (NYSE:ONON) targets CHF 5.6B ($7B) in 2029 sales, with 65%+ gross margin and 22%+ EBITDA. Q2 2026 revenue grew 13.5% to CHF 850.3M, with 65.4% gross margin. Americas growth slowed, while Asia-Pacific surged. The company plans soccer expansion and a $1B buyback through 2029. Analysts have mixed views on its targets.

Nike (NKE) rose 5% to $36.89, Lululemon (LULU) gained 4% to $98.24, while On Holding (ONON) dipped 0.6% to $35.30. Nike's Q1 FY2027 earnings beat estimates but revenue missed. Bank of America downgraded NKE, citing China weakness and lifestyle category slowdown. Lululemon is in turnaround mode, while On Holding underperforms.

On Holding AG (NYSE: ONON), a Swiss sports shoe brand, has seen its stock fall 52% from its January 2025 high. Q2 net sales rose 21.6% but missed expectations, leading to a reduced full-year growth outlook. The company is expanding into football and golf, signing Kylian Mbappé as a global ambassador. On aims for high-teens annual sales growth through 2029, with running and sneakers as primary drivers.

Nike's weak earnings and outlook caused pre-market drops in shares of Lululemon, On, Under Armour, and Deckers Outdoor. Nike's CEO cited market weakness and inventory issues, while earnings guidance fell below estimates. Nike's shares dropped nearly 10% in pre-market trading.

Wells Fargo analyst Ike Boruchow maintained a Buy rating on Bath & Body Works (BBWI) with a $24.00 price target. On Holding AG (ONON) received a Buy rating from Citi's Paul Lejuez and a $38.00 target from Berenberg Bank. BBWI closed at $16.45, ONON at $29.96. Analyst consensus: BBWI Hold ($22.20 target), ONON Strong Buy ($42.57 target).