ON24 (NYSE:ONTF) Issues FY 2024 Earnings Guidance

ON24 (NYSE:ONTF) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.080-0.100 for the period, compared to the consensus EPS estimate of 0.070. The company issued revenue guidance of $146.8 million-$147.8 million, compared to the consensus revenue estimate of $146.3 million. ON24 also updated its Q4 2024 guidance to 0.010-0.020 EPS.

ON24 Trading Down 1.8 %

ON24 stock traded down $0.12 on Thursday, reaching $6.51. 92,314 shares of the stock were exchanged, compared to its average volume of 175,769. ON24 has a twelve month low of $5.37 and a twelve month high of $8.35. The firm has a fifty day moving average price of $6.17 and a two-hundred day moving average price of $6.17. The stock has a market cap of $270.35 million, a PE ratio of -6.42 and a beta of 0.46.

ON24 (NYSE:ONTF) last announced its earnings results on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). The business had revenue of $37.35 million for the quarter, compared to the consensus estimate of $36.31 million. ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. Equities analysts anticipate that ON24 will post -0.73 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price 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. Needham & Company LLC reiterated a “hold” rating on shares of ON24 in a research note on Wednesday, August 7th.

Insider Buying and Selling

In related news, CFO Steven Vattuone sold 7,094 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $5.86, for a total value of $41,570.84. Following the completion of the transaction, the chief financial officer now owns 542,974 shares of the company’s stock, valued at $3,181,827.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Steven Vattuone sold 7,094 shares of the stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $5.86, for a total transaction of $41,570.84. Following the completion of the sale, the chief financial officer now owns 542,974 shares in the company, valued at $3,181,827.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the insider now owns 3,069,728 shares of the company’s stock, valued at $18,817,432.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 124,887 shares of company stock valued at $772,313 over the last ninety days. 32.30% of the stock is owned by company insiders.

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.