ON24 (NYSE:ONTF) Issues Q4 2024 Earnings Guidance

ON24 (NYSE:ONTF) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.010-0.020 for the period, compared to the consensus earnings per share 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 trading hours on Friday, hitting $6.58. 132,743 shares of the company were exchanged, compared to its average volume of 89,657. ON24 has a 52-week low of $5.37 and a 52-week high of $8.35. The stock has a market capitalization of $273.27 million, a price-to-earnings ratio of -6.39 and a beta of 0.46. The company’s 50 day moving average price is $6.18 and its 200-day moving average price is $6.17.

Wall Street Analyst Weigh In

ONTF has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a report on Friday. JPMorgan Chase & Co. decreased their target price on ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th.

Insider Buying and Selling at ON24

In related news, insider Jayesh Sahasi sold 4,468 shares of ON24 stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $6.35, for a total transaction of $28,371.80. Following the completion of the transaction, the insider now directly owns 727,913 shares in the company, valued at approximately $4,622,247.55. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Sharat Sharan sold 37,965 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $6.22, for a total value of $236,142.30. Following the completion of the transaction, the insider now owns 3,087,478 shares of the company’s stock, valued at approximately $19,204,113.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jayesh Sahasi sold 4,468 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total value of $28,371.80. Following the completion of the sale, the insider now directly owns 727,913 shares in the company, valued at approximately $4,622,247.55. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 127,178 shares of company stock worth $787,227. Insiders own 32.30% of the company’s stock.

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.