On Holding Slumps 15% in 2025; Bernstein Keeps $70 Target, New CFO Appointed
On Holding’s share price fell 15% in 2025 despite blowout results, as Bernstein reaffirmed an Outperform rating with a $70 price target. Stifel retained a Buy rating and $60 target following appointment of Frank Sluis as CFO beginning May 1, 2026.
1. Analyst Ratings and Price Targets
Bernstein reaffirmed an Outperform rating on On Holding with a $70 price target, highlighting the stock as one of the most dislocated in sportswear. Stifel also reiterated a Buy rating and maintained a $60 target following the search for a new CFO.
2. Share Performance
On Holding’s shares have dropped roughly 15% over 2025 despite blowout quarterly results, reflecting broader market skepticism and short-term headwinds rather than fundamental weakness.
3. CFO Appointment
Frank Sluis, previously at Ahold Delhaize, will assume the CFO role on May 1, 2026 after the company split the combined CEO/CFO position. His global consumer business experience is seen as aligning with On Holding’s growth objectives.
4. Potential Catalysts
Analysts are watching for constructive full-year guidance, stronger first-quarter sales trends and a potential investor day to provide clarity on the company’s expansion plans and restore confidence.