ON24 (NYSE:ONTF) Issues Q4 2024 Earnings Guidance

by · The Markets Daily

ON24 (NYSE:ONTF – Get Free Report) updated its fourth quarter 2024 earnings guidance on Thursday. 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 Stock Performance

ON24 stock traded up $0.07 during midday trading on Friday, reaching $6.58. 132,743 shares of the stock were exchanged, compared to its average volume of 89,657. The company’s fifty day moving average is $6.18 and its 200-day moving average is $6.17. ON24 has a 52 week low of $5.37 and a 52 week high of $8.35. The firm has a market cap of $273.27 million, a PE ratio of -6.39 and a beta of 0.46.

Wall Street Analyst Weigh In

Several research firms recently commented on ONTF. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research report on Friday. JPMorgan Chase & Co. decreased their price objective 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.

Get Our Latest Research Report on ON24

Insider Activity at ON24

In other ON24 news, insider Jayesh Sahasi sold 4,468 shares of ON24 stock in a transaction dated 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Steven Vattuone sold 5,216 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total transaction of $33,121.60. Following the transaction, the chief financial officer now owns 563,567 shares of the company’s stock, valued at approximately $3,578,650.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jayesh Sahasi sold 4,468 shares of the business’s stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold a total of 127,178 shares of company stock valued at $787,227 over the last 90 days. 32.30% of the stock is owned by insiders.

ON24 Company Profile

(Get Free Report)

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.

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