ON24, Inc. (NYSE:ONTF) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of ON24, Inc. (NYSE:ONTF) have earned an average rating of “Reduce” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $6.00.

ONTF has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on ON24 from $5.00 to $6.00 and gave the company a “neutral” rating in a report on Tuesday, November 11th. Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of ON24 in a research report on Wednesday, October 8th. Finally, Canaccord Genuity Group raised their price objective on shares of ON24 from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Tuesday, November 11th.

Insider Activity at ON24

In related news, insider Jayesh Sahasi sold 11,681 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $5.66, for a total value of $66,114.46. Following the completion of the transaction, the insider owned 707,280 shares in the company, valued at $4,003,204.80. The trade was a 1.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sharat Sharan sold 32,211 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $5.30, for a total value of $170,718.30. Following the transaction, the insider directly owned 3,613,147 shares in the company, valued at $19,149,679.10. This trade represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 202,764 shares of company stock worth $1,125,355. 33.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ONTF. Nuveen LLC bought a new position in ON24 during the first quarter worth about $357,000. American Century Companies Inc. lifted its holdings in shares of ON24 by 32.6% during the 1st quarter. American Century Companies Inc. now owns 41,333 shares of the company’s stock valued at $215,000 after purchasing an additional 10,171 shares in the last quarter. Hsbc Holdings PLC grew its position in shares of ON24 by 115.6% in the 1st quarter. Hsbc Holdings PLC now owns 78,363 shares of the company’s stock valued at $409,000 after purchasing an additional 42,018 shares during the period. Cubist Systematic Strategies LLC increased its stake in ON24 by 78.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 66,434 shares of the company’s stock worth $345,000 after purchasing an additional 29,290 shares in the last quarter. Finally, Lynrock Lake LP raised its holdings in ON24 by 4.5% during the 1st quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock worth $39,829,000 after buying an additional 329,715 shares during the period. Institutional investors and hedge funds own 83.93% of the company’s stock.

ON24 Stock Performance

Shares of ONTF opened at $6.06 on Friday. The company has a 50-day simple moving average of $5.53 and a 200-day simple moving average of $5.45. ON24 has a 52 week low of $4.35 and a 52 week high of $7.03. The firm has a market capitalization of $256.22 million, a P/E ratio of -8.19 and a beta of 0.66.

ON24 (NYSE:ONTF) last released its quarterly earnings data on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $34.60 million for the quarter, compared to analysts’ expectations of $33.87 million. ON24 had a negative return on equity of 18.61% and a negative net margin of 22.09%.ON24 has set its FY 2025 guidance at 0.050-0.060 EPS and its Q4 2025 guidance at 0.010-0.020 EPS. As a group, equities analysts forecast that ON24 will post -0.81 earnings per share for the current year.

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.