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 EPS guidance of 0.010-0.020 for the period, compared to the consensus EPS 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.

Analyst Ratings Changes

A number of analysts have commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Needham & Company LLC reissued a “hold” rating on shares of ON24 in a research note on Friday.

ON24 Price Performance

Shares of ON24 stock traded up $0.07 during trading on Friday, hitting $6.58. The stock had a trading volume of 132,743 shares, compared to its average volume of 89,657. The firm’s fifty day simple moving average is $6.18 and its 200-day simple moving average is $6.17. The stock has a market cap of $273.27 million, a PE 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.

Insider Activity at ON24

In related news, CRO James Blackie sold 4,376 shares of ON24 stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total transaction of $27,787.60. Following the completion of the sale, the executive now owns 437,161 shares in the company, valued at $2,775,972.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other ON24 news, CRO James Blackie sold 4,376 shares of the firm’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 $27,787.60. Following the transaction, the executive now owns 437,161 shares of the company’s stock, valued at approximately $2,775,972.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jayesh Sahasi sold 4,468 shares of the firm’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 transaction, the insider now directly owns 727,913 shares in the company, valued at $4,622,247.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,178 shares of company stock worth $787,227 in the last 90 days. 32.30% of the stock is owned by corporate 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.