Why On Holding AG (ONON) Stock Fell 7.5% on Nov 10, 2026
as of Tuesday, 4:48 PM ET
The reason we found
On Holding falls as guidance disappoints despite earnings beat
On Holding exceeded third-quarter EPS and slightly beat sales estimates, but its guidance midpoint reportedly trailed consensus, prompting investors to focus on slower expected growth. The negative guidance reaction plausibly explains the sharp 7.47% decline, while the bullish analyst initiation offers a conflicting but weaker signal.
earnings and guidancehigh confidence
Sources 4
- ON Holding AG-Class A (NYSE:ONON) Q3 Earnings Beat but Sales and Guidance Disappointfinnhub.io
- Cantor Fitzgerald Initiates Coverage On On Holding with Overweight Rating, Announces Price Target of $46finnhub.io
- On Holding Affirms FY2026 Sales Guidance of $4.273B-$4.383B vs $4.270B Estfinnhub.io
- On Holding Q3 Adj. EPS $0.66 Beats $0.46 Estimate, Sales $1.147B Beat $1.140B Estimatefinnhub.io
Our call
Buy moredated Sep 22, 2026
On fell 10% over the past five trading days after its Nov 10 report beat profit forecasts by 32%, but its P/E of 22 is below the usual 41. We'd stop buying if the P/E climbs back above 41 or On's next report misses profit forecasts.
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