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On Holding Likely to Post Q1 Sales Beat on Solid Trends, UBS Says

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On Holding (ONON) is likely to post Q1 sales growth beat and raise its 2026 guidance on solid topline trends, UBS said in a Wednesday research report. The company is due to release Q1 results on May 12.

The sentiment around the stock appears bearish amid the recent CEO change as well as high oil prices weighing much more on its margin guidance than expected, analysts wrote.

Channel checks indicated that the company's Q1 digital trends were solid with total and unique global visits to its site rising 20% and 21%, respectively, while European Union spend likely grew 35%, according to the note.

For Q1, UBS expects sales growth of 15.4%, but forex remains a material headwind, according to the note. For 2026, the brokerage said it expects the company to raise its sales growth guidance by 100 basis points.

The brokerage maintained its buy rating on the stock and price target of $85 per share.

Price: $34.95, Change: $-0.48, Percent Change: -1.35%

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