ON24, Inc. (NYSE:ONTF) Receives Average Recommendation of “Reduce” from Analysts

Shares of ON24, Inc. (NYSE:ONTF) have received an average rating of “Reduce” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation and five have issued a hold recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $7.40.

A number of brokerages have recently commented on ONTF. Canaccord Genuity Group lifted their target price on shares of ON24 from $6.00 to $8.10 and gave the company a “hold” rating in a report on Wednesday, December 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a research report on Thursday, January 22nd. Robert W. Baird upped their target price on shares of ON24 from $6.00 to $8.10 and gave the company a “neutral” rating in a report on Friday, January 2nd. Finally, Wall Street Zen upgraded shares of ON24 from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th.

Insider Buying and Selling

In other ON24 news, insider Sharat Sharan sold 50,332 shares of ON24 stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $7.97, for a total value of $401,146.04. Following the transaction, the insider directly owned 3,622,559 shares in the company, valued at approximately $28,871,795.23. This trade represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jayesh Sahasi sold 34,753 shares of the business’s stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $7.98, for a total value of $277,328.94. Following the completion of the transaction, the insider directly owned 672,527 shares in the company, valued at approximately $5,366,765.46. The trade was a 4.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 338,716 shares of company stock valued at $2,327,474 over the last 90 days. Insiders own 33.00% of the company’s stock.

Institutional Trading of ON24

Several hedge funds have recently made changes to their positions in ONTF. Nisa Investment Advisors LLC boosted its holdings in shares of ON24 by 139.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 4,852 shares of the company’s stock valued at $39,000 after acquiring an additional 2,825 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in ON24 in the third quarter valued at about $60,000. Dynamic Technology Lab Private Ltd acquired a new stake in ON24 in the third quarter valued at about $61,000. Public Employees Retirement System of Ohio boosted its holdings in ON24 by 228.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company’s stock valued at $66,000 after purchasing an additional 8,515 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in ON24 during the 2nd quarter worth approximately $78,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

ON24 Stock Performance

ON24 stock opened at $7.97 on Friday. The company has a market capitalization of $336.97 million, a P/E ratio of -10.77 and a beta of 0.61. ON24 has a fifty-two week low of $4.35 and a fifty-two week high of $8.10. The stock has a 50-day simple moving average of $6.84 and a 200-day simple moving average of $5.91.

ON24 (NYSE:ONTF) last released its quarterly earnings results on Monday, November 10th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. ON24 had a negative return on equity of 18.61% and a negative net margin of 22.09%.The company had revenue of $34.60 million for the quarter, compared to analyst estimates of $33.87 million. 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, analysts forecast that ON24 will post -0.81 earnings per share for the current year.

ON24 Company Profile

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.