On Holding (ONON) shares declined 2.25% to $44.27 as analysts warned of a projected 14.55% annual earnings decline and shifting sentiment regarding 2026 profitability. While Zacks maintains a Strong Buy rank, AInvest cautioned that the company's premium valuation is increasingly challenged by macroeconomic pressures.
- Gross margins face significant contraction from U.S. tariffs and Swiss franc appreciation, which is expected to impact results by 550 basis points.
- The upcoming March 3 earnings report will be a critical indicator of whether direct-to-consumer momentum can successfully offset these financial headwinds.