On Holding Shares Rise 5.6% After Signing Kylian Mbappé as Global Ambassador
Key Takeaways
- •On Holding shares rose 5.6% in premarket trading after announcing Kylian Mbappé as a global ambassador and product development partner.
- •Mbappé ended his Nike sponsorship and will work with On's Zurich teams to create football boots using LightSpray technology.
- •Thierry Henry joined On as Director of Football, while Sydney Schertenleib expanded her ambassador role to develop products for the women's game.
- •Needham reaffirmed its buy rating with a $37 price target, and On carries a consensus Moderate Buy rating with an average price target of $43.92.
- •On's latest quarterly results showed EPS of $0.35 versus the $0.42 consensus and revenue of $1.05 billion, up 13.5% year over year.
On Holding AG shares rose 5.6% in premarket trading on Friday after the Swiss sportswear company announced that it had signed Real Madrid striker Kylian Mbappé as a global ambassador and product development partner.
Mbappé, 27, is a World Cup record goal scorer and left his previous sponsorship deal with Nike to join On. The agreement will see him work directly with On’s product engineering teams in Zurich to develop football footwear using the company’s proprietary LightSpray technology.
LightSpray is a robotic, continuous-filament spraying process that On first introduced in 2024. The company said the collaboration will focus on creating football boots designed to fit like a second skin and adapted to the demands of professional football.
Kylian Mbappe is no longer sponsored by Nike $NKE and has left to join On Holdings $ONON — Evan (@StockMKTNewz) September 18, 2026
On Holding’s stock, which trades under the ticker ONON, opened at $27.33 on Friday. Its 52-week range is $26.36 to $51.08. Nike shares fell 0.8% in premarket trading, while Adidas shares declined 1% following the announcement.
Thierry Henry Joins On’s Football Division
On also announced that French football legend Thierry Henry had joined the company as Director of Football. Henry had been working behind the scenes on On’s product strategy since late 2025.
Swiss international and FC Barcelona player Sydney Schertenleib has also expanded her ambassador role with On. She will help the company develop products for the women’s game.
The appointments mark On’s official entry into global football, a market that has long been dominated by Nike and Adidas. Mbappé’s product role, Henry’s football leadership and Schertenleib’s focus on the women’s game give the initiative responsibilities spanning product development, football expertise and athlete representation.
Analyst Ratings and Recent Results
Needham & Company reaffirmed its “buy” rating on ONON on Friday and maintained a $37 price target. The target is around 35% above the stock’s current price. Across covering firms, On has a consensus “Moderate Buy” rating and an average price target of $43.92.
JPMorgan initiated coverage in July with an “overweight” rating and a $51 price target. UBS and Barclays also maintain “buy” or “overweight” ratings, although both reduced their targets in August. Two analysts rate the stock a “Strong Buy,” 18 rate it a “Buy,” five rate it a “Hold,” and two rate it a “Sell.”
On’s latest quarterly results, reported on August 11, fell short of expectations. The company reported earnings per share of $0.35, compared with the $0.42 consensus estimate. Revenue reached $1.05 billion, below the $1.09 billion forecast, but increased 13.5% from a year earlier. Analysts expect the company to report full-year EPS of $1.49.
Company insider and Chief Executive Officer Caspar Coppetti each purchased 65,000 shares on August 14 at $30.67 per share. Insiders now own 68.57% of the company’s stock.
ONON’s 50-day moving average is $32.68, while its 200-day moving average is $35.59. Both averages are above the current share price.
Source: CoinCentral
