On (ONON) Stock: Buy, Sell, or Hold?
ONON - On Holding AG
$34.00
-0.22 (-0.64%)
âŧ
5d:
-3.38%
30d:
+12.73%
90d:
-5.08%
WAIT
LOW Confidence
Analysis Updated: Oct 22, 2026 12:00 AM ET
Earnings: Nov 11, 2026
18d
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Interactive Price Chart (1 Month)
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Bottom Line:
âšī¸ NEUTRAL: ONON is fairly priced but lacks strong directional signals. At -6.9% expected growth, valuation appears cheap. Wait for clearer setup or better entry on dips.
âšī¸ NEUTRAL: ONON is fairly priced but lacks strong directional signals. At -6.9% expected growth, valuation appears cheap. Wait for clearer setup or better entry on dips.
Long-Term Wealth Forecast (2031)
Based on Analyst Consensus Growth & Historical Valuation
0% (Stagnation)
50% (Hyper Growth)
EST. PRICE IN 2031
$72.46
Based on 11.6% avg growth
INTRINSIC VALUE TODAY
$44.99
24.4% Margin of Safety
How this is calculated: We use a Growth Decay Model: starting with analyst consensus growth (adjusted above) and gradually slowing it down to a long-term terminal rate (4%) by Year 5. This provides a more realistic valuation than assuming constant hyper-growth. We then apply a 24.8x Exit PE.
In-depth Analysis How we analyze
Valuation Analysis: ONON is currently trading at $34.00, which is considered slightly high relative to its 30-day fair value range of $28.53 to $34.65. From a valuation perspective, the stock is trading at a discount (Forward PE: 20.0) compared to its historical average (24.8). Remarkably, the market is currently pricing in an annual earnings decline of 6.9% over the next few years. This pessimistic expectation contrasts with the company's recent 81.1% earnings growth, suggesting potential undervaluation if the company simply maintains stability.
Technical Outlook: Technically, ONON is in a strong downtrend. The price is currently testing key support at $33.72. A bounce from this level would confirm strength, while a break below could signal further downside.
Market Sentiment: ONON scores 22/100 on our bottoming-setup gauge. Note this measures entry quality, not trend direction — a low score can mean the chart is extended after a strong run (don't chase) or still falling without stabilization; better entries typically come after a pullback toward the 20-day average. Wall Street analysts see significant upside, with an average price target of $43.76 (+28.7%). Current signals suggest waiting for a better entry point before initiating new positions.
Technical Outlook: Technically, ONON is in a strong downtrend. The price is currently testing key support at $33.72. A bounce from this level would confirm strength, while a break below could signal further downside.
Market Sentiment: ONON scores 22/100 on our bottoming-setup gauge. Note this measures entry quality, not trend direction — a low score can mean the chart is extended after a strong run (don't chase) or still falling without stabilization; better entries typically come after a pullback toward the 20-day average. Wall Street analysts see significant upside, with an average price target of $43.76 (+28.7%). Current signals suggest waiting for a better entry point before initiating new positions.
Quick Decision Summary
Current Position
SLIGHTLY HIGH
Historical Trading Range
$28.53 -
$34.65
Company Quality Score
38/100
(SELL)
Volume Confirmation
HIGH
Confidence Score
42.9%
Protect Your Profits
Holding ONON? Use our AI-powered strategies to protect your downside while keeping your long-term position.
View Profit Protection PlanAll Signals
- BEARISH: Weak technical setup (22/100)
- BULLISH: High volume confirmation
- BULLISH: Trading 28.7% below Wall St target ($43.76)
- WARNING: Composite score 38/100 in the bottom quintile â this cohort historically lags the market
Trading Range Analysis
30-Day Trading Range
$28.53 -
$34.65
Current vs Trading Range
SLIGHTLY HIGH
Support & Resistance Levels
Support Level
$33.72
Resistance Level
$36.08
Current Trend
Strong Downtrend
Technical data as of
Oct 22, 2026
Fundamental Context
Forward P/E (Next Year Est.)
19.98
Wall Street Target
$43.76
(+28.7%)
Revenue Growth (YoY)
13.5%
Earnings Growth (YoY)
81.1%
Profit Margin
12.3%
Valuation Discount vs History
-6.9% cheaper
PE vs Historical
20.0 vs 24.8
CHEAP
Market-Implied Price Targets
If current PE multiple persists
Implied Growth (YoY):
-6.9%
(market-implied from PE analysis)
1-Year Target
$31.65
(-7%)
2-Year Target
$29.47
(-13%)
3-Year Target
$27.44
(-19%)
3-Yr Target (if PE normalizes)
(PE: 20â25)
$34.05
(+0%)
3-Year Scenarios
Using analyst projected EPS growth
Bull:
(PE: 20.0, Growth: 19.1%)
$57.39
(+69%)
Base:
(SPY PE: 19.9, Growth: 19.1%)
$57.03
(+68%)
Bear:
(PE: 16.9, Growth: 19.1%)
$48.47
(+43%)
đ
Valuation based on Current Earnings
RECOVERY PLAY: Stock looks expensive now (23x PE), but valuation improves significantly next year (20x PE) as earnings recover.
Trailing PE: 22.81 | Current EPS (TTM): $1.50
Bull Case
$42.69
(+26%)
Analyst growth 13.4%, PE expands to 25.1
Base Case
$38.81
(+14%)
Market implied 13.4%, PE stable at 22.8
Bear Case
$23.27
(-32%)
Severe decline -20.0%, PE contracts to 19.4
These are projections based on PE multiples and EPS growth scenarios, not predictions. Actual results may vary significantly.
đĄ
Upside Surprise Potential
If earnings stabilize (0% growth), PE could expand from 20.0 to 24.8
Stabilization Target:
$42.19
(+24.1%)
PE Expansion Potential:
+24.1%
Share & Embed Analysis
Last updated: October 23, 2026 12:46 AM ET
Data refreshes hourly during market hours. Next update: 1:46 AM
Data refreshes hourly during market hours. Next update: 1:46 AM
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Technical Signals Check
Is ONON showing a specific setup today?
Insider Activity (6 Months)
0
Buys
0
Sells
0
Net
NEUTRAL
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Advanced ONON Option Strategies
Professional options setups generated by AI based on today's ONON price and gamma walls.
