---
title: "KeyBanc Cuts On Holding Price Target to $43: Tariff Concerns Pressure the Growth Story"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286298731.md"
description: "KeyBanc has reduced its price target for On Holding (ONON) stock from $58 to $43, citing concerns over tariffs that impacted the company's growth. Despite reporting Q1 2026 revenue of $1.07 billion, which exceeded estimates by 22% and a gross margin of 64%, ONON faced $70.43 million in tariffs during the quarter. Additionally, revenue from the Asia-Pacific region increased by 44% year-over-year."
datetime: "2026-05-13T17:39:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286298731.md)
  - [en](https://longbridge.com/en/news/286298731.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286298731.md)
---

# KeyBanc Cuts On Holding Price Target to $43: Tariff Concerns Pressure the Growth Story

Quick Read On Holding (ONON) delivered Q1 2026 revenue of $1.07B, beating estimates by 22% with 64% gross margin and Asia-Pacific revenue up 44% year-over-year, but absorbed $70.43M in tariffs during the quarter. KeyBanc cut its ONON stock price target to $43 from $58 due to tariff hea...

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