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

ON24, Inc. (NYSE:ONTF) has been given a consensus recommendation of “Reduce” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $7.40.

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

Insider Activity

In other news, insider Sharat Sharan sold 50,332 shares of ON24 stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $7.97, for a total transaction of $401,146.04. Following the completion of the sale, the insider directly owned 3,622,559 shares of the company’s stock, valued at approximately $28,871,795.23. The trade was a 1.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jayesh Sahasi sold 34,753 shares of the stock in a transaction 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 $5,366,765.46. This trade represents a 4.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 338,716 shares of company stock valued at $2,327,474 over the last quarter. Company insiders own 33.00% of the company’s stock.

Institutional Investors Weigh In On ON24

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in 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 purchasing an additional 2,825 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of ON24 during the 3rd quarter worth approximately $60,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of ON24 in the 3rd quarter valued at $61,000. Public Employees Retirement System of Ohio boosted its holdings in shares of 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 buying an additional 8,515 shares in the last quarter. Finally, Brevan Howard Capital Management LP purchased a new position in shares of ON24 in the 2nd quarter valued at $78,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

ON24 Stock Performance

Shares of ONTF opened at $7.97 on Friday. The company’s 50-day simple moving average is $6.84 and its 200-day simple moving average is $5.91. ON24 has a 1 year low of $4.35 and a 1 year high of $8.10. The stock has a market capitalization of $336.97 million, a PE ratio of -10.77 and a beta of 0.61.

ON24 (NYSE:ONTF) last announced 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. ON24 had a negative net margin of 22.09% and a negative return on equity of 18.61%. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate 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. On average, sell-side analysts predict 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.