ON24 (NYSE:ONTF) Issues Q4 2024 Earnings Guidance

ON24 (NYSE:ONTF) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.010-0.020 for the period, compared to the consensus estimate of 0.010. The company issued revenue guidance of $35.4 million-$36.4 million, compared to the consensus revenue estimate of $35.9 million. ON24 also updated its FY 2024 guidance to 0.080-0.100 EPS.

ON24 Price Performance

NYSE:ONTF traded up $0.07 during mid-day trading on Friday, reaching $6.58. 132,743 shares of the company’s stock traded hands, compared to its average volume of 89,657. The company has a 50 day moving average price of $6.18 and a 200-day moving average price of $6.17. The firm has a market capitalization of $273.27 million, a price-to-earnings ratio of -6.39 and a beta of 0.46. ON24 has a 12-month low of $5.37 and a 12-month high of $8.35.

Analyst Ratings Changes

Several research firms recently weighed in on ONTF. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a report on Friday. JPMorgan Chase & Co. reduced their price target on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th.

Insider Activity

In related news, insider Jayesh Sahasi sold 4,468 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total value of $28,371.80. Following the sale, the insider now directly owns 727,913 shares of the company’s stock, valued at $4,622,247.55. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Jayesh Sahasi sold 4,468 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total transaction of $28,371.80. Following the sale, the insider now owns 727,913 shares of the company’s stock, valued at $4,622,247.55. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sharat Sharan sold 17,750 shares of ON24 stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $6.13, for a total transaction of $108,807.50. Following the transaction, the insider now owns 3,069,728 shares of the company’s stock, valued at $18,817,432.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,178 shares of company stock worth $787,227 in the last quarter. 32.30% of the stock is owned by company insiders.

About ON24

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.