Zacks Research upgraded On Holding to strong-buy from hold on February 12, 2026. This rating change signals increased confidence in the company's performance. The stock currently maintains an average brokerage recommendation between Strong Buy and Buy across 24 Wall Street firms.
The Baron Opportunity Fund initiated a new position in the sportswear brand during the fourth quarter of 2025. A report released February 12, 2026, highlighted the fund's entry into the stock. Baron cited On's strong growth trajectory and brand loyalty as primary drivers for the investment. The fund also identified significant potential for future market share gains.