ON24 (ONTF) Scheduled to Post Quarterly Earnings on Tuesday

ON24 (NYSE:ONTFGet Rating) will be announcing its earnings results after the market closes on Tuesday, August 9th. Analysts expect the company to announce earnings of ($0.16) per share for the quarter. ON24 has set its FY 2022 guidance at -$0.64–$0.58 EPS and its Q2 2022 guidance at -$0.17–$0.15 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

ON24 (NYSE:ONTFGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.02. ON24 had a negative return on equity of 10.44% and a negative net margin of 18.27%. The business had revenue of $48.49 million for the quarter, compared to the consensus estimate of $47.44 million. On average, analysts expect ON24 to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

ON24 Stock Performance

ONTF stock opened at $9.62 on Tuesday. The stock’s 50 day simple moving average is $10.83 and its 200 day simple moving average is $12.78. ON24 has a fifty-two week low of $8.54 and a fifty-two week high of $37.89. The company has a market cap of $450.69 million, a P/E ratio of -12.49 and a beta of 0.42.

Analyst Ratings Changes

A number of research analysts recently weighed in on ONTF shares. JPMorgan Chase & Co. dropped their price target on ON24 from $16.50 to $14.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 22nd. Needham & Company LLC downgraded ON24 from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $20.67.

Insider Transactions at ON24

In other news, CFO Steven Vattuone sold 2,551 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $11.25, for a total value of $28,698.75. Following the completion of the sale, the chief financial officer now directly owns 230,330 shares of the company’s stock, valued at $2,591,212.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CRO James Blackie sold 2,706 shares of the stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $11.25, for a total transaction of $30,442.50. Following the completion of the sale, the executive now directly owns 214,817 shares of the company’s stock, valued at $2,416,691.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Vattuone sold 2,551 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were sold at an average price of $11.25, for a total value of $28,698.75. Following the sale, the chief financial officer now directly owns 230,330 shares of the company’s stock, valued at $2,591,212.50. The disclosure for this sale can be found here. Insiders sold a total of 38,513 shares of company stock valued at $479,222 over the last ninety days. 12.40% of the stock is currently owned by insiders.

Institutional Trading of ON24

Institutional investors and hedge funds have recently modified their holdings of the business. Ensign Peak Advisors Inc increased its position in shares of ON24 by 4,250.0% during the first quarter. Ensign Peak Advisors Inc now owns 4,350 shares of the company’s stock valued at $57,000 after acquiring an additional 4,250 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of ON24 during the first quarter valued at approximately $152,000. Ergoteles LLC purchased a new stake in shares of ON24 during the first quarter valued at approximately $201,000. MetLife Investment Management LLC increased its position in shares of ON24 by 57.0% during the first quarter. MetLife Investment Management LLC now owns 16,511 shares of the company’s stock valued at $217,000 after acquiring an additional 5,994 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of ON24 during the first quarter valued at approximately $276,000. 70.24% of the stock is owned by hedge funds and other institutional investors.

ON24 Company Profile

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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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