Key Takeaways
- Shares of On Holding rose 5.6% during premarket hours following the announcement that Real Madrid’s Kylian Mbappé will serve as a global brand ambassador and collaborate on product innovation.
- The football superstar departed from his longtime Nike partnership to join forces with On in developing soccer footwear utilizing the brand’s cutting-edge LightSpray technology.
- Arsenal legend Thierry Henry has been appointed as On’s Director of Football, a role he has been unofficially fulfilling since the end of 2025.
- Investment firm Needham & Company maintained its “buy” recommendation on ONON shares with a $37 valuation target, compared to the Street’s consensus of $43.92.
- The company’s most recent quarterly earnings fell short of projections, reporting EPS of $0.35 against expectations of $0.42, although revenues increased 13.5% compared to the prior year.
On Holding stock experienced a 5.6% surge in premarket activity Friday following the Swiss athletic footwear company’s revelation that it secured Kylian Mbappé as both a worldwide brand representative and collaborative partner in product innovation.
The 27-year-old superstar forward for Real Madrid and world-record holder for World Cup goals ended his longstanding relationship with Nike to partner with On. Shares of ONON began Friday’s session at $27.33, trading within a 52-week price range spanning from $26.36 to $51.08.
Meanwhile, competitors Nike and Adidas both experienced declines following the announcement, dropping 0.8% and 1% respectively during premarket hours.
The partnership will see Mbappé collaborating closely with On’s engineering and design teams based in Zurich. Their primary objective involves creating football boots leveraging On’s innovative LightSpray technology—a robotic, continuous-filament application process that debuted in 2024.
The initiative aims to produce footwear that conforms to the foot like a natural extension, specifically engineered for elite-level football performance.
Football Icon Thierry Henry Named Director of Football
On simultaneously announced that French football icon Thierry Henry has officially assumed the position of Director of Football. Henry has been quietly contributing to the company’s product development initiatives since the latter part of 2025.
Additionally, Swiss international footballer Sydney Schertenleib of FC Barcelona has broadened her partnership with On to assist in creating products tailored for women’s football.
These strategic appointments signal On’s formal push into the worldwide football market, a sector historically controlled by industry giants Nike and Adidas.
Wall Street Ratings and Price Projections
Investment research firm Needham & Company maintained its “buy” recommendation for ONON shares Friday, setting a price objective of $37. This target suggests approximately 35% upside potential from the stock’s present trading level.
The wider analyst consensus leans optimistic overall. On currently holds a “Moderate Buy” rating from the investment community, with an average price projection of $43.92 among covering analysts.
JPMorgan established coverage in July with an “overweight” stance and $51 price target. Meanwhile, both UBS and Barclays maintain “buy” or “overweight” positions, though each reduced their targets during August.
The stock has received “Strong Buy” ratings from two analysts, “Buy” from eighteen, “Hold” from five, and “Sell” from two.
On’s latest quarterly financial report, released August 11, underperformed analyst forecasts. The company delivered earnings per share of $0.35, falling short of the $0.42 consensus projection. Sales totaled $1.05 billion compared to anticipated revenue of $1.09 billion.
Nonetheless, the revenue figure represented a 13.5% increase year-over-year. Wall Street projects On will achieve full-year EPS of $1.49.
Regarding insider activity, CEO Caspar Coppetti and another company insider each acquired 65,000 shares on August 14 at a price of $30.67 per share. Company insiders collectively control 68.57% of outstanding shares.
The stock’s 50-day moving average stands at $32.68, while its 200-day moving average rests at $35.59—both positioned above current trading levels.
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