Brokerages Set ON24, Inc. (NYSE:ONTF) Price Target at $6.00

Shares of ON24, Inc. (NYSE:ONTF) have been assigned a consensus recommendation of “Reduce” from the six analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $6.00.

ONTF has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ON24 in a research report on Wednesday, October 8th. Wall Street Zen upgraded ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Robert W. Baird increased their price target on ON24 from $5.00 to $6.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Finally, Canaccord Genuity Group boosted their price objective on shares of ON24 from $5.00 to $6.00 and gave the company a “hold” rating in a report on Tuesday, November 11th.

Insider Activity at ON24

In other news, insider Jayesh Sahasi sold 4,608 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $5.52, for a total value of $25,436.16. Following the transaction, the insider directly owned 737,913 shares in the company, valued at approximately $4,073,279.76. This represents a 0.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Sharat Sharan sold 32,093 shares of ON24 stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $5.45, for a total transaction of $174,906.85. Following the completion of the sale, the insider owned 3,591,899 shares of the company’s stock, valued at $19,575,849.55. This trade represents a 0.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 143,059 shares of company stock valued at $789,300 over the last 90 days. Insiders own 33.00% of the company’s stock.

Hedge Funds Weigh In On ON24

Several hedge funds have recently bought and sold shares of ONTF. Acadian Asset Management LLC grew its stake in shares of ON24 by 18.0% in the first quarter. Acadian Asset Management LLC now owns 830,851 shares of the company’s stock worth $4,319,000 after acquiring an additional 127,010 shares in the last quarter. Lynrock Lake LP raised its stake in shares of ON24 by 4.5% in the first quarter. Lynrock Lake LP now owns 7,659,474 shares of the company’s stock valued at $39,829,000 after acquiring an additional 329,715 shares in the last quarter. Nuveen LLC purchased a new position in ON24 in the first quarter valued at $357,000. Palogic Value Management L.P. grew its stake in ON24 by 23.1% during the 1st quarter. Palogic Value Management L.P. now owns 320,000 shares of the company’s stock worth $1,664,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in ON24 by 115.6% during the 1st quarter. Hsbc Holdings PLC now owns 78,363 shares of the company’s stock worth $409,000 after purchasing an additional 42,018 shares in the last quarter. Institutional investors and hedge funds own 83.93% of the company’s stock.

ON24 Stock Down 1.3%

NYSE ONTF opened at $5.21 on Monday. The business’s fifty day simple moving average is $5.54 and its 200-day simple moving average is $5.40. The firm has a market cap of $220.32 million, a PE ratio of -7.04 and a beta of 0.66. ON24 has a 52 week low of $4.35 and a 52 week high of $7.03.

ON24 (NYSE:ONTF) last announced its quarterly earnings data on Monday, November 10th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $33.87 million. ON24 has set its FY 2025 guidance at 0.050-0.060 EPS. Q4 2025 guidance at 0.010-0.020 EPS. Research analysts expect that ON24 will post -0.81 EPS for the current year.

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.