ONON Shares Decline Following Unexpected CEO Departure, Causing Division on Wall Street
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 25 2026
0mins
Source: stocktwits
Analyst Ratings: BTIG has maintained a 'Buy' rating on On Holding with a price target of $70, while analyst Cristina Fernandez has lowered her target from $65 to $60 but kept an 'Outperform' rating on the shares.
Leadership Change: CEO Martin Hoffmann stepped down, leading to a nearly 11% drop in shares, but management emphasized that this transition is not indicative of any business challenges.
New Co-CEOs: David Alleman and Caspar Coppetti will assume the roles of Co-CEOs while continuing as Executive Co-Chairmen of the Board, with co-founder Olivier Bernhard remaining focused on key performance initiatives.
Retail Sentiment: Retail sentiment around On Holding has been described as "extremely bullish," despite the company's shares falling 25% so far in 2026.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy ONON?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on ONON
Wall Street analysts forecast ONON stock price to rise
21 Analyst Rating
18 Buy
2 Hold
1 Sell
Strong Buy
Current: 39.210
Low
30.00
Averages
60.79
High
85.00
Current: 39.210
Low
30.00
Averages
60.79
High
85.00
About ONON
On Holding AG is a Switzerland-based company active in athletic sports accesories industry. The Company provides footwear and sports apparel and is engaged in developing and distributing performance sports products, through independent retailers and global distributors. The Company sells its products trough the internet and its own stores.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Consumer Goods Companies Report Mixed Results Amid Inflation
- Tapestry Strong Growth: Tapestry reported a 25% year-over-year increase in net sales and a 62% rise in adjusted earnings, showcasing its brand strength and pricing power, particularly with Coach accounting for 88% of total sales.
- On Holding Continuous Expansion: On Holding achieved a 26% revenue growth in Q1, with gross margin rising to 64.2%, indicating its ability to drive full-price sales without discounts, while direct-to-consumer sales grew 29%.
- SharkNinja Diversified Development: Despite high inflation, SharkNinja posted a 15% sales increase in Q1, demonstrating the effectiveness of its diversification strategy across cleaning, cooking, and beauty products, particularly with strong performance from Luxe Cafe coffee machines and Shark Beauty products.
- Future Growth Potential: Analysts expect Tapestry and SharkNinja to see annual earnings growth of 13% and 18%, respectively, while On Holding continues to build strong brand awareness globally, allowing investors to purchase these stocks at reasonable P/E ratios.
See More
Tapestry, On Holding, and SharkNinja Show Strong Growth Amid Challenges
- Tapestry's Impressive Performance: Tapestry reported a 25% year-over-year increase in net sales and a 62% rise in adjusted earnings in the latest quarter, showcasing its brand strength and pricing power, particularly among younger consumers, with expected annual EPS growth of 13% in the coming years.
- On Holding's Sustained Growth: On Holding achieved a 26% constant-currency revenue growth across over 90 countries, with gross margin rising to 64.2%, indicating success in full-price sales, while direct-to-consumer sales grew by 29%, reflecting strong brand appeal.
- SharkNinja's Diversified Growth: SharkNinja posted a 15% sales increase despite high inflation, with a slight decline in food preparation products, yet strong performance in cleaning and beauty products highlights the success of its diversified portfolio, with expected annual earnings growth exceeding 18%.
- Significant Market Opportunities: Despite economic pressures on consumers, companies like Tapestry, On Holding, and SharkNinja demonstrate robust sales growth, indicating substantial market opportunities amidst challenges, making these stocks appealing for investors at reasonable forward P/E ratios.
See More
Nike's Turnaround Under CEO Elliott Hill Faces Challenges
- Rating Downgrade: RBC downgraded Nike's stock rating from outperform to sector perform and cut its price target to $50, indicating a 12% upside from Tuesday's close, reflecting cautious market sentiment regarding Nike's future performance.
- Stock Price Decline: Nike's stock has plummeted over 70% since late 2021, and under CEO Elliott Hill, it has also dropped 45%, highlighting significant challenges in the company's recovery efforts.
- Market Share Risks: Analysts noted that while Nike maintains a leading position in lifestyle footwear, it faces price competition from On Running, Hoka, and New Balance in the running shoe market, which could lead to potential market share losses.
- Earnings Outlook Downgrade: Analyst Dadhania lowered Nike's earnings per share outlook, citing slower execution on product and inventory clearance, and anticipates that the second half of 2026 is unlikely to deliver positive revenue growth.
See More
Lululemon Settles Proxy Contest with Founder Chip Wilson
- Settlement Agreement: Lululemon has reached a settlement with founder Chip Wilson, effectively ending the proxy contest initiated in December, which signifies a stabilization of corporate governance and harmony within the company.
- New Board Members: As part of the agreement, Lululemon will appoint two of Wilson's nominees—former On co-CEO Marc Maurer and former ESPN Chief Marketing Officer Laura Gentile—by October, enhancing the board's diversity and expertise.
- Stock Price Surge: Following the settlement announcement, Lululemon's shares rose approximately 4% in early trading, reflecting market optimism regarding improved governance and future growth potential.
- Community Support Commitment: Wilson initially sought reimbursement for expenses related to the proxy contest but ultimately agreed to a donation from Lululemon to Kitsilano Beach in Vancouver to support local athletics, arts, and landscaping, demonstrating the company's commitment to community responsibility.
See More
S&P 500 Hits New Highs, Investment Opportunities Emerge
- S&P 500 Performance: The S&P 500 continues to reach new highs, yet the cyclically adjusted P/E ratio (CAPE) has hit its second-highest level ever, indicating that market valuations are becoming alarmingly high, prompting investors to be cautious in seeking undervalued stocks.
- Target's Recovery: Target reported a 6.7% year-over-year sales increase and a 5.6% rise in comparable sales in Q1 2026, showcasing resilience despite challenges; the new CEO's strategic changes and store renovations have boosted market confidence, leading to a 31% stock price increase this year.
- Carnival's Strong Growth: Carnival achieved $6.2 billion in revenue for Q1 2026, a 6% year-over-year increase, with earnings per share rising 50% to $0.19; despite rising oil prices, the company has recorded its highest booking levels ever, reflecting robust market demand.
- On's Brand Ascendancy: On experienced a 26% year-over-year sales increase in Q1 2026, with direct-to-consumer sales up 28%; despite inflationary pressures, the company's gross margin improved from 59.9% to 64.2%, and net income surged by 82.2%, highlighting its competitive edge in the premium athletic wear market.
See More
Jim Cramer Stock Recommendations Analysis
- Stock Performance Analysis: Jim Cramer highlights Boost Run's impressive year-to-date stock performance, indicating strong market interest that could attract more speculative investors.
- DoorDash Investment Advice: Cramer sees DoorDash as a buy despite competition from hardware stocks, suggesting that its market potential remains significant and could appeal to investors seeking diversification.
- Leidos Stock Outlook: Although Leidos' stock is underperforming, Cramer believes its contributions to security are noteworthy, recommending investors consider buying during this downturn for potential future gains.
- Flex Stock Potential: Cramer expresses optimism about Flex's prospects, suggesting it could rise by 50% in the future, indicating strong market confidence in its business model that may draw more investor attention.
See More
Consumer Goods Companies Report Mixed Results Amid Inflation
- Tapestry Strong Growth: Tapestry reported a 25% year-over-year increase in net sales and a 62% rise in adjusted earnings, showcasing its brand strength and pricing power, particularly with Coach accounting for 88% of total sales.
- On Holding Continuous Expansion: On Holding achieved a 26% revenue growth in Q1, with gross margin rising to 64.2%, indicating its ability to drive full-price sales without discounts, while direct-to-consumer sales grew 29%.
- SharkNinja Diversified Development: Despite high inflation, SharkNinja posted a 15% sales increase in Q1, demonstrating the effectiveness of its diversification strategy across cleaning, cooking, and beauty products, particularly with strong performance from Luxe Cafe coffee machines and Shark Beauty products.
- Future Growth Potential: Analysts expect Tapestry and SharkNinja to see annual earnings growth of 13% and 18%, respectively, while On Holding continues to build strong brand awareness globally, allowing investors to purchase these stocks at reasonable P/E ratios.
See More
Tapestry, On Holding, and SharkNinja Show Strong Growth Amid Challenges
- Tapestry's Impressive Performance: Tapestry reported a 25% year-over-year increase in net sales and a 62% rise in adjusted earnings in the latest quarter, showcasing its brand strength and pricing power, particularly among younger consumers, with expected annual EPS growth of 13% in the coming years.
- On Holding's Sustained Growth: On Holding achieved a 26% constant-currency revenue growth across over 90 countries, with gross margin rising to 64.2%, indicating success in full-price sales, while direct-to-consumer sales grew by 29%, reflecting strong brand appeal.
- SharkNinja's Diversified Growth: SharkNinja posted a 15% sales increase despite high inflation, with a slight decline in food preparation products, yet strong performance in cleaning and beauty products highlights the success of its diversified portfolio, with expected annual earnings growth exceeding 18%.
- Significant Market Opportunities: Despite economic pressures on consumers, companies like Tapestry, On Holding, and SharkNinja demonstrate robust sales growth, indicating substantial market opportunities amidst challenges, making these stocks appealing for investors at reasonable forward P/E ratios.
See More
Nike's Turnaround Under CEO Elliott Hill Faces Challenges
- Rating Downgrade: RBC downgraded Nike's stock rating from outperform to sector perform and cut its price target to $50, indicating a 12% upside from Tuesday's close, reflecting cautious market sentiment regarding Nike's future performance.
- Stock Price Decline: Nike's stock has plummeted over 70% since late 2021, and under CEO Elliott Hill, it has also dropped 45%, highlighting significant challenges in the company's recovery efforts.
- Market Share Risks: Analysts noted that while Nike maintains a leading position in lifestyle footwear, it faces price competition from On Running, Hoka, and New Balance in the running shoe market, which could lead to potential market share losses.
- Earnings Outlook Downgrade: Analyst Dadhania lowered Nike's earnings per share outlook, citing slower execution on product and inventory clearance, and anticipates that the second half of 2026 is unlikely to deliver positive revenue growth.
See More
Lululemon Settles Proxy Contest with Founder Chip Wilson
- Settlement Agreement: Lululemon has reached a settlement with founder Chip Wilson, effectively ending the proxy contest initiated in December, which signifies a stabilization of corporate governance and harmony within the company.
- New Board Members: As part of the agreement, Lululemon will appoint two of Wilson's nominees—former On co-CEO Marc Maurer and former ESPN Chief Marketing Officer Laura Gentile—by October, enhancing the board's diversity and expertise.
- Stock Price Surge: Following the settlement announcement, Lululemon's shares rose approximately 4% in early trading, reflecting market optimism regarding improved governance and future growth potential.
- Community Support Commitment: Wilson initially sought reimbursement for expenses related to the proxy contest but ultimately agreed to a donation from Lululemon to Kitsilano Beach in Vancouver to support local athletics, arts, and landscaping, demonstrating the company's commitment to community responsibility.
See More
S&P 500 Hits New Highs, Investment Opportunities Emerge
- S&P 500 Performance: The S&P 500 continues to reach new highs, yet the cyclically adjusted P/E ratio (CAPE) has hit its second-highest level ever, indicating that market valuations are becoming alarmingly high, prompting investors to be cautious in seeking undervalued stocks.
- Target's Recovery: Target reported a 6.7% year-over-year sales increase and a 5.6% rise in comparable sales in Q1 2026, showcasing resilience despite challenges; the new CEO's strategic changes and store renovations have boosted market confidence, leading to a 31% stock price increase this year.
- Carnival's Strong Growth: Carnival achieved $6.2 billion in revenue for Q1 2026, a 6% year-over-year increase, with earnings per share rising 50% to $0.19; despite rising oil prices, the company has recorded its highest booking levels ever, reflecting robust market demand.
- On's Brand Ascendancy: On experienced a 26% year-over-year sales increase in Q1 2026, with direct-to-consumer sales up 28%; despite inflationary pressures, the company's gross margin improved from 59.9% to 64.2%, and net income surged by 82.2%, highlighting its competitive edge in the premium athletic wear market.
See More
Jim Cramer Stock Recommendations Analysis
- Stock Performance Analysis: Jim Cramer highlights Boost Run's impressive year-to-date stock performance, indicating strong market interest that could attract more speculative investors.
- DoorDash Investment Advice: Cramer sees DoorDash as a buy despite competition from hardware stocks, suggesting that its market potential remains significant and could appeal to investors seeking diversification.
- Leidos Stock Outlook: Although Leidos' stock is underperforming, Cramer believes its contributions to security are noteworthy, recommending investors consider buying during this downturn for potential future gains.
- Flex Stock Potential: Cramer expresses optimism about Flex's prospects, suggesting it could rise by 50% in the future, indicating strong market confidence in its business model that may draw more investor attention.
See More
