ON24 (NYSE:ONTF) Issues Q2 2021 Earnings Guidance

ON24 (NYSE:ONTF) issued an update on its second quarter 2021 earnings guidance on Wednesday morning. The company provided EPS guidance of -0.010-0.010 for the period, compared to the Thomson Reuters consensus EPS estimate of $-0.020. The company issued revenue guidance of $50.50 million-$51.50 million, compared to the consensus revenue estimate of $50.04 million.ON24 also updated its FY 2021 guidance to -0.080–0.020 EPS.

Shares of ON24 stock traded down $2.05 during trading on Wednesday, hitting $36.77. The company’s stock had a trading volume of 166,290 shares, compared to its average volume of 291,491. ON24 has a 52 week low of $36.54 and a 52 week high of $81.98. The firm’s 50-day moving average is $45.56.

ON24 (NYSE:ONTF) last issued its quarterly earnings data on Wednesday, March 17th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.04. The business had revenue of $53.29 million during the quarter, compared to the consensus estimate of $52.22 million.

ONTF has been the topic of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of ON24 in a research report on Monday, March 8th. They set an overweight rating and a $85.00 price target on the stock. The Goldman Sachs Group initiated coverage on shares of ON24 in a research report on Monday, March 8th. They set a buy rating and a $88.00 price target on the stock. KeyCorp cut their price target on shares of ON24 from $73.00 to $65.00 and set an overweight rating on the stock in a research report on Wednesday, May 5th. Canaccord Genuity began coverage on shares of ON24 in a research report on Monday, March 8th. They set a buy rating and a $65.00 price target on the stock. Finally, Robert W. Baird began coverage on shares of ON24 in a research report on Monday, March 8th. They set an outperform rating and a $70.00 price objective on the stock. Eight equities research analysts have rated the stock with a buy rating, The stock presently has an average rating of Buy and a consensus price target of $73.29.

In related news, major shareholder Goldman Sachs Group Inc acquired 800 shares of the business’s stock in a transaction dated Friday, March 5th. The shares were bought at an average price of $48.95 per share, with a total value of $39,160.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders have bought a total of 981 shares of company stock worth $50,462 in the last three months.

ON24 Company Profile

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 Virtual Environment, 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, including 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.

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Earnings History and Estimates for ON24 (NYSE:ONTF)

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