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 earnings per share (EPS) guidance of 0.080-0.100 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Needham & Company LLC reiterated 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.

ON24 Stock Performance

ONTF traded up $0.07 during trading on Friday, reaching $6.58. 132,743 shares of the company traded hands, compared to its average volume of 89,657. The company has a market cap of $273.27 million, a P/E 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. The firm has a fifty day simple moving average of $6.18 and a 200 day simple moving average of $6.17.

Insider Buying and Selling at ON24

In other ON24 news, Director Dominique Trempont sold 34,133 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $6.22, for a total transaction of $212,307.26. Following the completion of the transaction, the director now owns 283,250 shares of the company’s stock, valued at $1,761,815. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Sharat Sharan sold 17,750 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $6.13, for a total value 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 approximately $18,817,432.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dominique Trempont sold 34,133 shares of ON24 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $6.22, for a total value of $212,307.26. Following the completion of the transaction, the director now owns 283,250 shares of the company’s stock, valued at approximately $1,761,815. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,178 shares of company stock worth $787,227. Insiders own 32.30% of the company’s stock.

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.