On Holding (ONON) could be a solid addition to your portfolio given a notable revision in the company's earnings estimates. While the stock has been gaining lately, the trend might continue since its earnings outlook is still improving.The upward trend in estimate revisions for this running-shoe and apparel company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.For On Holding, strong agreement among the covering analysts in revising earnings estimates upward has resulted in meaningful improvement in consensus estimates for the next quarter and full year.Current-Quarter Estimate RevisionsFor the current quarter, the company is expected to earn $0.12 per share, which is a change of +71.43% from the year-ago reported number.Over the last 30 days, three estimates have moved higher for On Holding compared to no negative revisions. As a result, the Zacks Consensus Estimate has increased 145%.Current-Year Estimate RevisionsFor the full year, the earnings estimate of $0.38 per share represents a change of +216.67% from the year-ago number.In terms of estimate revisions, the trend for the current year also appears quite encouraging for On Holding. Over the past month, three estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 331.43%.Favorable Zacks RankThanks to promising estimate revisions, On Holding currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.Bottom LineWhile strong estimate revisions for On Holding have attracted decent investments and pushed the stock 18.7% higher over the past four weeks, further upside may still be left in the stock. So, you may consider adding it to your portfolio right away. How to Profit from the Hot Electric Vehicle Industry Global electric car sales in 2021 more than doubled their 2020 numbers. And today, the electric vehicle (EV) technology and very nature of the business is changing quickly. The next push for future technologies is happening now and investors who get in early could see exceptional profits. See Zacks' Top Stocks to Profit from the EV Revolution >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report On Holding AG (ONON): Free Stock Analysis Report To read this article on Zacks.com click here.