ON24 (ONTF) to Release Quarterly Earnings on Tuesday

ON24 (NYSE:ONTFGet Rating) will release its earnings data after the market closes on Tuesday, May 10th. Analysts expect ON24 to post earnings of ($0.34) per share for the quarter. ON24 has set its Q1 2022 guidance at $-0.170-$-0.150 EPS and its FY 2022 guidance at $-0.640-$-0.580 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

ON24 (NYSE:ONTFGet Rating) last announced its quarterly earnings results on Monday, February 28th. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.05. The firm had revenue of $52.03 million for the quarter, compared to the consensus estimate of $51.53 million. ON24 had a negative return on equity of 6.73% and a negative net margin of 11.91%. During the same quarter in the previous year, the business earned $0.50 earnings per share. On average, analysts expect ON24 to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Shares of NYSE ONTF opened at $13.22 on Tuesday. The business’s 50 day moving average price is $13.48 and its two-hundred day moving average price is $15.72. The company has a market cap of $631.63 million, a PE ratio of -24.04 and a beta of 0.22. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.01. ON24 has a twelve month low of $11.20 and a twelve month high of $45.17.

In related news, insider Goldman Sachs Group Inc sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The stock was sold at an average price of $12.76, for a total value of $319,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders sold 125,000 shares of company stock valued at $1,603,750.

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake in shares of ON24 by 237.3% in the third quarter. Royal Bank of Canada now owns 3,559 shares of the company’s stock valued at $71,000 after buying an additional 2,504 shares during the period. Citigroup Inc. boosted its stake in shares of ON24 by 116.9% in the fourth quarter. Citigroup Inc. now owns 7,182 shares of the company’s stock valued at $125,000 after buying an additional 3,871 shares during the period. Legal & General Group Plc boosted its stake in shares of ON24 by 13.3% in the fourth quarter. Legal & General Group Plc now owns 10,840 shares of the company’s stock valued at $188,000 after buying an additional 1,275 shares during the period. Invesco Ltd. bought a new stake in shares of ON24 in the fourth quarter valued at approximately $202,000. Finally, Millennium Management LLC bought a new stake in ON24 during the second quarter worth $218,000. Institutional investors and hedge funds own 70.24% of the company’s stock.

A number of brokerages have weighed in on ONTF. Zacks Investment Research downgraded ON24 from a “buy” rating to a “sell” rating in a research report on Wednesday, March 9th. William Blair downgraded ON24 from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 1st. Piper Sandler downgraded ON24 from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $17.00 in a research report on Tuesday, March 1st. KeyCorp decreased their target price on ON24 from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 1st. Finally, Robert W. Baird downgraded ON24 from an “outperform” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $22.86.

ON24 Company Profile (Get Rating)

ON24, Inc provides a cloud-based digital experience platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Experience products, such as ON24 Elite, a live and interactive webinar experience; ON24 Breakouts, a live breakout room experience that facilitates networking, collaboration and interactivity between users; ON24 Go Live, a live, interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; ON24 Virtual Confrence, a live and large scale virtual event experience; ON24 Engagement Hub, a rich multimedia content experience; and ON24 Target, a personalized and curated rich multimedia content experience, as well as solutions; ON24 Intelligence, an analytics backbone that captures first-person data to power the insights, benchmarking, reporting, and artificial intelligence and machine learning engine; and ON24 Connect, an ecosystem of third-party application integrations.

Further Reading

Earnings History for ON24 (NYSE:ONTF)

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