BMO lifts On Holding target to USD 35: On Holding stock awaits Q3 results

Published on 10/29/2026 at 13:08 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

BMO kept Market Perform on October 28, 2026. On Holding stock traded at EUR 28.90 on October 29, 2026, with 17.00 percent Q3 guidance.

Guidance and reporting date

BMO Capital kept a Market Perform rating on October 28, 2026.
On Holding reported CHF 850.30 million in second-quarter sales in 2026.
Second-quarter gross margin reached 65.40 percent in 2026.

ONON, CH1134540470, Illustration mit AI erstellt.

On Holding (ISIN CH1134540470) is tied to BMO Capital's October 28, 2026 decision to raise its price target to USD 35, according to Investing.com. The company is scheduled to report third-quarter results on November 10, 2026, the same report said.

Growth guidance sets the test

Management's third-quarter constant-currency growth guidance stood at 17.00 percent on September 22, 2026, according to Investing.com. BMO expects fiscal 2026 constant-currency growth to remain in the low-20 percent range, while direct-to-consumer performance is expected to stay stronger than wholesale sales in the second half.

The comparison with the latest reported quarter is demanding. On Holding reported CHF 850.30 million in second-quarter sales for 2026, up 21.60 percent at constant currency, while direct-to-consumer sales grew 34.00 percent, according to the company's investor-relations page at On Holding. The second-quarter gross margin reached 65.40 percent, up from 61.50 percent.

Three events shape the setup

On September 22, 2026, the company set third-quarter constant-currency growth guidance at 17.00 percent, according to Investing.com. On October 16, 2026, Raymond James raised its target from USD 38 to USD 42 while retaining an Outperform rating, as reported by Markets Insider. On October 28, 2026, BMO Capital raised its target to USD 35 and kept Market Perform, according to Investing.com.

What does 17 percent growth mean?

The guidance implies a slower pace than the second quarter's 21.60 percent constant-currency increase, making wholesale execution and full-price selling central to the upcoming report. BMO also pointed to direct-to-consumer strength and expects the company to report on November 10, 2026.

Stock price and market value

On Holding was trading at EUR 28.90 at Lang & Schwarz on October 29, 2026 at 1:04 p.m. CEST. The NYSE quote stood at USD 31.94 on October 28, 2026, while market capitalization was USD 10.5 billion and the 52-week range was USD 26.37 to USD 51.08.

The further course of trading is shown by the continuously updated real-time quote of On Holding stock.