ON24 (ONTF) Scheduled to Post Quarterly Earnings on Tuesday

ON24 (NYSE:ONTF) is scheduled to release its earnings data 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.Investors that are interested in registering for the company’s conference call can do so using this link.

ON24 (NYSE:ONTF) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.25). The company had revenue of $39.34 million during the quarter, compared to analysts’ expectations of $37.29 million. ON24 had a negative return on equity of 18.49% and a negative net margin of 31.63%. During the same period in the prior year, the business earned ($0.23) EPS. 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

ONTF stock opened at $6.61 on Monday. The company has a market capitalization of $276.50 million, a PE ratio of -5.75 and a beta of 0.49. ON24 has a 12 month low of $5.73 and a 12 month high of $9.55. The firm’s 50-day moving average is $6.85 and its 200 day moving average is $7.13.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Steven Vattuone sold 10,376 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.15, for a total transaction of $84,564.40. Following the completion of the transaction, the chief financial officer now owns 396,398 shares in the company, valued at approximately $3,230,643.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Steven Vattuone sold 10,376 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.15, for a total value of $84,564.40. Following the completion of the sale, the chief financial officer now owns 396,398 shares of the company’s stock, valued at approximately $3,230,643.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sharat Sharan sold 21,465 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $6.73, for a total value of $144,459.45. Following the transaction, the insider now owns 3,102,983 shares in the company, valued at $20,883,075.59. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,970 shares of company stock worth $651,711. Corporate insiders own 27.30% of the company’s stock.

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.