On Holding Faces Q1 Earnings Test With Wall Street Targets Cut

Benzinga reported Tuesday that On Holding AG (NYSE: ONON) is set to release its first-quarter results before Tuesday’s opening bell. Analysts are broadly optimistic but have been trimming their price expectations heading into the print.

Analysts Expect Strong Growth in On Holding Q1 Earnings

The Street’s consensus points to earnings of 27 cents per share for the quarter. That compares to 21 cents per share in the same period last year. Revenue expectations also signal healthy momentum. Analysts project approximately $821.5 million in quarterly sales, up from roughly $726.6 million a year ago. Despite the bullish growth outlook, several firms have pulled back their price targets in recent months.

Also Read: Retail Stocks Face Macro Headwinds as Consumer Spending Slows

Where the Major Firms Now Stand

Barclays analyst Adrienne Yih kept an Overweight rating on the Swiss sportswear brand but trimmed her price target from $60 to $57 in early March. Yih carries a 70% historical accuracy rate, among the highest of the covering analysts. Guggenheim’s Simeon Siegel also maintained a Buy but reduced his target from $59 to $51. Cristina Fernandez at Telsey Advisory Group held her Outperform call while lowering her target from $65 to $60. BTIG’s Janine Stichter was the lone holdout among notable watchers. She kept her Buy rating and a $70 price target unchanged. On Holding shares slipped 3.4% to close at $34.04 on Monday ahead of the report.

Background: A Leadership Reshuffle Adds to the Watch List

On Holding has undergone notable management changes heading into this earnings cycle. The Zurich-based company announced in late March that co-founders David Allemann and Caspar Coppetti would assume co-CEO roles. Simultaneously, Scott Maguire was elevated to president and chief operating officer. The leadership realignment drew close attention from investors already tracking the brand’s rapid international expansion. On Holding went public on the New York Stock Exchange in September 2021 and has since grown into one of the most closely watched names in premium athletic footwear. The stock reached highs above $60 late last year before broader market pressure pulled it lower.

What Comes Next for ONON

With bullish ratings intact across most of the covering firms, the bar for a positive reaction remains tied to guidance more than the headline numbers. Any commentary on tariff exposure or North American demand trends will likely drive the stock’s near-term direction. Tuesday’s print gives investors the first hard data point of the year.

Read Next: Retail Earnings Season Heats Up as Consumer Confidence Wavers