ON24 (ONTF) to Release Earnings on Tuesday

ON24 (NYSE:ONTF) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, May 7th. Analysts expect the company to announce earnings of ($0.02) per share for the quarter. ON24 has set its FY 2024 guidance at 0.020-0.050 EPS and its Q1 2024 guidance at -0.020-0.000 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

ON24 (NYSE:ONTF) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.25). ON24 had a negative net margin of 31.63% and a negative return on equity of 18.49%. The company had revenue of $39.34 million during the quarter, compared to the consensus estimate of $37.29 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. On average, analysts expect ON24 to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

ON24 Trading Down 3.1 %

Shares of ONTF opened at $6.61 on Friday. The stock has a 50 day simple moving average of $6.85 and a 200-day simple moving average of $7.12. The stock has a market cap of $276.50 million, a PE ratio of -5.76 and a beta of 0.49. ON24 has a 1 year low of $5.73 and a 1 year high of $9.55.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group cut their price target on shares of ON24 from $10.00 to $9.00 and set a “hold” rating for the company in a report on Friday, February 23rd.

Insider Buying and Selling

In other news, CFO Steven Vattuone sold 10,376 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.15, for a total transaction of $84,564.40. Following the sale, the chief financial officer now owns 396,398 shares in the company, valued at $3,230,643.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO James Blackie sold 17,899 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.15, for a total transaction of $145,876.85. Following the sale, the executive now directly owns 286,320 shares of the company’s stock, valued at $2,333,508. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven Vattuone sold 10,376 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.15, for a total transaction of $84,564.40. Following the completion of the sale, the chief financial officer now directly owns 396,398 shares of the company’s stock, valued at approximately $3,230,643.70. The disclosure for this sale can be found here. Insiders have sold a total of 88,970 shares of company stock worth $651,711 in the last three months. Insiders own 27.30% of the company’s stock.

ON24 Company Profile

ON24, Inc provides a cloud-based intelligent engagement platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Elite, for live and interactive webinar experience; ON24 Breakouts, for live breakout room experience that facilitates networking, collaboration, and interactivity between users; ON24 Forums, for live and interactive experience, which facilitates video-to-video interaction between presenters and audiences; ON24 Go Live, for live and interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; and ON24 Virtual Confrence, for live and large scale managed virtual event experience.