ON24 (ONTF) Scheduled to Post Quarterly Earnings on Thursday

ON24 (NYSE:ONTF) is scheduled to issue its quarterly earnings data after the market closes on Thursday, November 7th. Analysts expect the company to announce earnings of $0.01 per share for the quarter. ON24 has set its FY 2024 guidance at 0.050-0.080 EPS and its Q3 2024 guidance at -0.010-0.010 EPS.Parties that are interested in participating in the company’s conference call can do so using this link.

ON24 (NYSE:ONTF) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.10). ON24 had a negative net margin of 28.14% and a negative return on equity of 21.81%. The company had revenue of $37.35 million during the quarter, compared to analyst estimates of $36.31 million. On average, analysts expect ON24 to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

ON24 Stock Down 0.5 %

Shares of ONTF opened at $6.43 on Thursday. The company’s fifty day moving average is $6.20 and its 200-day moving average is $6.19. The firm has a market cap of $267.03 million, a price-to-earnings ratio of -6.24 and a beta of 0.47. ON24 has a 12 month low of $5.37 and a 12 month high of $8.35.

Analyst Ratings Changes

Several research firms have weighed in on ONTF. Needham & Company LLC restated a “hold” rating on shares of ON24 in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of ON24 from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th.

Insider Activity

In related news, insider Sharat Sharan sold 37,965 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $6.22, for a total transaction of $236,142.30. Following the transaction, the insider now directly owns 3,087,478 shares in the company, valued at approximately $19,204,113.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ON24 news, insider Sharat Sharan sold 37,965 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $6.22, for a total value of $236,142.30. Following the transaction, the insider now directly owns 3,087,478 shares in the company, valued at $19,204,113.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Vattuone sold 5,216 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $6.35, for a total transaction of $33,121.60. Following the completion of the sale, the chief financial officer now directly owns 563,567 shares of the company’s stock, valued at approximately $3,578,650.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 124,300 shares of company stock worth $768,498 over the last ninety days. Insiders own 32.30% of the company’s stock.

About ON24

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.