Why analysts are watching it
Analysts are watching On Holding (ONON) because some see it as an overlooked growth stock with a compelling valuation, despite recent market sentiment. On May 13, 2026, Travis Hoium said on his video "The HUGE Growth Stock Nobody Sees Coming | $ONON" that he views On Holding as a "phenomenal company doing extremely well" and that its current market cap of $11 billion presents a value that is "too good to pass up." Hoium also noted that "On Holding's core is growing, but the ancillary businesses, the non-core markets are growing even faster," which he believes is exactly what investors want to see. However, on May 11, 2026, Jeremy Lefebvre said on his video "This Stock is the Next AMD or Micron‼️" that On Holding is "down 34% over the past year." As a risk, investor sentiment can rapidly shift.
Contributing creators
Source clips
"But, you add all of this together and I think [490s] On Holding phenomenal company doing [492s] extremely well and I think the value is [494s] too good to pass up right now. Market [496s] cap is just $11 billion."
— The HUGE Growth Stock Nobody Sees Coming | $ONON
"I think it's crazy that the market only values this company at 22 times forward earnings. Enterprise value to sales is just three. I love when companies like this are overlooked by the market, but I'm just going to allow this company to compound its business long term, something that management has proven they can do."
— 5 Stocks I Love in May
"The final stock today is a phenomenal growth company that is in a 43% drawdown on holding."
— 5 Stocks I Love in May
"But, that's not what the mar- market [176s] saw. What the market saw was this right [178s] here and this always happens with On [180s] Holding's reports because they report in [182s] Swiss francs."
— The HUGE Growth Stock Nobody Sees Coming | $ONON
"So, [534s] love where On Holding sitting today. [535s] Obviously, the market wasn't happy with [536s] the results, but I think long-term this [538s] is going to be one of those companies [539s] that I'm happy to add at this price [541s] because I think it's a phenomenal [542s] business and it's showing that it's [544s] separating from the field in shoes and [546s] the apparel business."
— The HUGE Growth Stock Nobody Sees Coming | $ONON
"So, I love the company's position, and they have proven the ability to scale this business long term. I think that continues in 2026, and the sentiment starts to starts to turn by the end of the year."
— 5 Stocks I Love in May
"My name [40s] is Travis Hoyle, and thanks for watching [41s] Asymmetric Investing. If you want more [42s] from me, check out my Asymmetric [43s] Investing newsletter. There's a link on [45s] the screen and a link in the show notes [46s] that to where you can follow my [47s] portfolio, including my position in On [50s] Holding. And thanks to this video's [51s] sponsor, Fiscal AI."
— The HUGE Growth Stock Nobody Sees Coming | $ONON
"So there you have it, the five stocks that I'm excited about in May: Hims & Hers, Lyft, Adobe, Alphabet, and On Holding."
— 5 Stocks I Love in May
"On holdings is down 34% over the past year."
— This Stock is the Next AMD or Micron‼️
"So, you're seeing that On Holding's core [390s] is growing, but the ancillary [391s] businesses, the non-core markets are [394s] growing even faster. That's exactly what [396s] you want to see from the company."
— The HUGE Growth Stock Nobody Sees Coming | $ONON
"On holdings is down 34% over the past year."
— This Stock is the Next AMD or Micron‼️