ON24 (ONTF) Set to Announce Quarterly Earnings on Tuesday

ON24 (NYSE:ONTF) will post its quarterly earnings results after the market closes on Tuesday, May 7th. Analysts expect ON24 to post earnings of ($0.02) per share for the quarter. ON24 has set its FY 2024 guidance at 0.020-0.050 EPS and its Q1 2024 guidance at -0.020-0.000 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

ON24 (NYSE:ONTF) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.25). ON24 had a negative net margin of 31.63% and a negative return on equity of 18.49%. The business had revenue of $39.34 million for the quarter, compared to analysts’ expectations of $37.29 million. During the same period in the previous year, the business earned ($0.23) earnings per share. On average, analysts expect ON24 to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

ON24 Price Performance

Shares of ONTF stock opened at $6.61 on Friday. ON24 has a 1-year low of $5.73 and a 1-year high of $9.55. The company has a market cap of $276.50 million, a P/E ratio of -5.76 and a beta of 0.49. The stock’s 50-day moving average is $6.85 and its 200 day moving average is $7.12.

Insider Transactions at ON24

In related news, CFO Steven Vattuone sold 9,314 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $6.62, for a total transaction of $61,658.68. Following the completion of the sale, the chief financial officer now directly owns 364,189 shares in the company, valued at $2,410,931.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dominique Trempont sold 4,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $8.12, for a total transaction of $34,510.00. Following the transaction, the director now owns 287,185 shares of the company’s stock, valued at approximately $2,331,942.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Steven Vattuone sold 9,314 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $6.62, for a total transaction of $61,658.68. Following the completion of the transaction, the chief financial officer now owns 364,189 shares in the company, valued at $2,410,931.18. The disclosure for this sale can be found here. Insiders sold a total of 88,970 shares of company stock valued at $651,711 in the last three months. 27.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their price objective on shares of ON24 from $10.00 to $9.00 and set a “hold” rating on the stock in a report on Friday, February 23rd.

ON24 Company Profile

ON24, Inc provides a cloud-based intelligent engagement platform that enables businesses to convert customer engagement into revenue through interactive webinar, virtual event, and multimedia content experiences worldwide. The company provides ON24 Elite, for live and interactive webinar experience; ON24 Breakouts, for live breakout room experience that facilitates networking, collaboration, and interactivity between users; ON24 Forums, for live and interactive experience, which facilitates video-to-video interaction between presenters and audiences; ON24 Go Live, for live and interactive video event experience that enables presenters and attendees to engage face-to-face in real-time; and ON24 Virtual Confrence, for live and large scale managed virtual event experience.