Jefferies Downgrades On Holding AG to Sell, Sets Price Target at $40

Jefferies analyst Randal Konik downgraded On Holding AG to a Sell with a price target of $40.00, citing an analyst consensus of Strong Buy and a price target consensus of $64.61. The company's shares closed at $45.22. Konik is a 3-star analyst with a 45.97% success rate and a 0.9% average return. ONON market cap is $14.64B and has a P/E ratio of 96.87.

On July 2, 2025, Jefferies analyst Randal Konik downgraded On Holding AG (ONON) to a "Sell" rating with a price target of $40.00. This move comes amidst a broader market sentiment that has seen the stock receive a consensus rating of "Strong Buy" from analysts, with a price target consensus of $64.61. The company's shares closed at $45.22 on the same day.

Konik, a 3-star analyst with a 45.97% success rate and an average return of 0.9%, cited concerns about the stock's performance as the rationale behind the downgrade. Despite the positive ratings from other analysts, the competitive landscape in the athleisure market and potential headwinds were highlighted as factors contributing to the bearish outlook.

On Holding AG, with a market capitalization of $14.64 billion and a P/E ratio of 96.87, has been recognized for its innovative designs and high-quality products in the athleisure market. The company's diverse product range, including high-performance footwear and apparel, caters to the growing consumer interest in fitness and wellness. However, the competitive intensity and the potential for market saturation could pose challenges for the company's future growth.

The downgrade by Konik reflects a more cautious stance on the stock, indicating that investors should closely monitor the company's financial performance and market conditions. The stock's valuation, as indicated by its high P/E ratio, suggests that investors should be mindful of the risks associated with the company's current growth trajectory.

References:
[1] https://www.marketbeat.com/stocks/NYSE/ONON/forecast/