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 French striker departed from his longtime Nike partnership to assist On in creating football boots utilizing the company’s innovative LightSpray manufacturing process.
- Football icon Thierry Henry has been appointed as On’s Director of Football, a role he’s been unofficially fulfilling since the end of 2025.
- Investment firm Needham & Company maintained its “buy” recommendation on ONON shares with a $37 price objective, while the average analyst target stands at $43.92.
- The company’s latest earnings report fell short of Wall Street projections, posting earnings per share of $0.35 compared to the anticipated $0.42, despite achieving 13.5% revenue growth annually.
On Holding stock experienced a 5.6% surge in Friday’s premarket session following the Swiss athletic apparel company’s announcement of a partnership with Kylian Mbappé, who will serve as both a global brand ambassador and collaborative partner in product innovation.
The 27-year-old forward, who plays for Real Madrid and holds World Cup scoring records, terminated his existing Nike contract to partner with On. Trading commenced at $27.33 on Friday, within the stock’s yearly trading band of $26.36 to $51.08.
The announcement negatively impacted competitors, with Nike and Adidas shares declining 0.8% and 1% respectively during premarket hours.
The partnership will see Mbappé collaborating closely with On’s engineering division in Zurich. Their collaboration will center on creating football footwear incorporating On’s LightSpray innovation—a robotic manufacturing technique using continuous-filament spraying that debuted in 2024.
The objective is to produce boots offering a seamless, second-skin fit tailored to meet the specific requirements of elite-level football competition.
Former Arsenal Star Henry Takes Football Leadership Role
On simultaneously announced that Thierry Henry, the celebrated French footballer, has officially become the company’s Director of Football. Henry has been contributing to product development initiatives in an unofficial capacity since late 2025.
Additionally, Swiss international footballer Sydney Schertenleib, who plays for FC Barcelona, has extended her partnership with the brand to support the development of women’s football products.
These strategic appointments signal On’s formal expansion into the global football market, a sector historically controlled by industry giants Nike and Adidas.
Wall Street Outlook and Price Projections
Investment research firm Needham & Company reiterated its “buy” recommendation for ONON shares on Friday, maintaining a $37 price objective. This target suggests approximately 35% potential appreciation from the stock’s present trading level.
The wider analyst community maintains an optimistic outlook. On currently holds a consensus “Moderate Buy” rating, with an average price projection of $43.92 among covering analysts.
JPMorgan launched coverage in July with an “overweight” designation and $51 target price. Both UBS and Barclays maintain “buy” or “overweight” recommendations, though each reduced their targets during August.
The stock has received “Strong Buy” recommendations from two analysts, “Buy” ratings from eighteen, “Hold” ratings from five, and “Sell” ratings from two.
The company’s latest quarterly performance, disclosed on August 11, underperformed analyst projections. On reported earnings per share of $0.35, falling short of the $0.42 consensus forecast. Sales totaled $1.05 billion against expectations of $1.09 billion.
Notwithstanding the earnings miss, revenue demonstrated 13.5% year-over-year growth. Wall Street projects On will achieve full-year earnings per share of $1.49.
Regarding insider transactions, both a company insider and CEO Caspar Coppetti acquired 65,000 shares each 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 currently stands at $32.68, while its 200-day moving average rests at $35.59—both exceeding the current market price.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
