Raymond James raises target for On Holding stock from USD 38.00 to USD 42.00

Published on 10/20/2026 at 12:38 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Q2 sales reached CHF 850 million, up 21.60 percent at constant currency. On Holding stock costs EUR 31.70 on October 20, 2026.

Analyst target and reporting date

Raymond James lifted its target from USD 38.00 to USD 42.00 on October 16, 2026.
On reported CHF 850 million in second-quarter 2026 sales, up 21.60 percent at constant currency.
On Holding stock trades at EUR 31.70 at 12:34 p.m. CEST at Lang & Schwarz on October 20, 2026.
MarketBeat estimates the next quarterly report for November 11, 2026.

ONON, CH1134540470, Illustration mit AI erstellt.

On Holding (ISIN CH1134540470) stock was trading at EUR 31.70 at Lang & Schwarz on October 20, 2026, at 12:34 p.m. CEST. On October 16, 2026, Raymond James raised its target for On from USD 38.00 to USD 42.00 while maintaining an Outperform rating, as MarketBeat reported.

What does the target reset change?

The move adds USD 4.00 to the broker's target, a 10.53 percent increase from the previous USD 38.00 level. The new target is still a dollar-denominated analyst view and is separate from the euro quotation used for German-market investors.

The broader operating picture remains tied to On's premium-growth plan. In the second quarter of 2026, net sales reached CHF 850 million, up 21.60 percent at constant currency and 13.50 percent on a reported basis, according to the company's earnings-call transcript carried by Yahoo Finance. Direct-to-consumer sales increased 34.30 percent at constant currency, giving the quarter a clear channel split.

Three milestones frame the story

On August 11, 2026, the company reported second-quarter sales of CHF 850 million and 21.60 percent constant-currency growth, according to Yahoo Finance. On September 22, 2026, it announced a USD 1.00 billion share repurchase authorization and a 2029 net-sales ambition of at least CHF 5.60 billion, with a gross-margin ambition of at least 65.00 percent, in its On Holding release. On October 16, 2026, Raymond James raised its target from USD 38.00 to USD 42.00, the latest of the three milestones.

When is the next report?

MarketBeat estimates that On will report third-quarter 2026 results on November 11, 2026, before the market opens, with the conference call scheduled for 8:00 a.m. ET. That date places the next test on execution: whether the company can sustain its reported growth while protecting premium margins.

Euro quote sets the reference

On Holding stock was trading at EUR 31.70 at Lang & Schwarz on October 20, 2026, at 12:34 p.m. CEST. The company trades on the New York Stock Exchange under ticker ONON, as identified by MarketBeat. The further course of trading is shown by the continuously updated real-time quote of On Holding stock.