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

Shares of ON24, Inc. (NYSE:ONTF) have received an average recommendation of “Reduce” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $7.40.

ONTF has been the topic of a number of recent research reports. Robert W. Baird boosted their price objective on ON24 from $6.00 to $8.10 and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ON24 in a report on Wednesday, October 8th. Canaccord Genuity Group upped their price objective on shares of ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a report on Wednesday, December 31st. Finally, Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th.

Insider Activity

In related news, CFO Steven Vattuone sold 80,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $7.98, for a total value of $638,400.00. Following the transaction, the chief financial officer directly owned 452,654 shares in the company, valued at approximately $3,612,178.92. This represents a 15.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jayesh Sahasi sold 34,753 shares of the stock in a transaction that occurred on Tuesday, December 30th. The stock was sold at an average price of $7.98, for a total value of $277,328.94. Following the completion of the transaction, the insider owned 672,527 shares of the company’s stock, valued at $5,366,765.46. The trade was a 4.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 370,809 shares of company stock worth $2,502,380 in the last 90 days. 33.00% of the stock is owned by corporate insiders.

Institutional Trading of ON24

Several institutional investors and hedge funds have recently bought and sold shares of ONTF. Federated Hermes Inc. lifted its position in ON24 by 0.5% in the third quarter. Federated Hermes Inc. now owns 1,177,588 shares of the company’s stock valued at $6,736,000 after buying an additional 5,347 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of ON24 by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 852,320 shares of the company’s stock valued at $4,629,000 after acquiring an additional 102,396 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of ON24 by 1.8% in the 2nd quarter. Acadian Asset Management LLC now owns 845,702 shares of the company’s stock worth $4,590,000 after acquiring an additional 14,851 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of ON24 by 19.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 710,354 shares of the company’s stock worth $4,063,000 after purchasing an additional 116,400 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in ON24 by 4.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 305,720 shares of the company’s stock valued at $1,749,000 after purchasing an additional 13,600 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

ON24 Trading Up 0.3%

Shares of NYSE ONTF opened at $7.99 on Tuesday. The stock has a market cap of $337.61 million, a PE ratio of -10.79 and a beta of 0.61. ON24 has a 12-month low of $4.35 and a 12-month high of $8.10. The company has a 50-day moving average of $5.85 and a 200 day moving average of $5.57.

ON24 (NYSE:ONTF) last issued its earnings results on Monday, November 10th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate 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. On average, sell-side analysts forecast that ON24 will post -0.81 EPS for the current fiscal year.

About ON24

ON24, Inc (NYSE: ONTF) is a cloud-based digital experience platform that enables organizations to create, manage and optimize virtual events, webinars and multimedia content. The company’s technology is designed to facilitate interactive, data-driven engagement between enterprises and their audiences, supporting demand generation, lead nurturing, corporate communications and training initiatives.

At the core of ON24’s offering is its webinar and virtual event solution, which provides live and on-demand webcasting, attendee interaction tools and real-time analytics.