ON24 (ONTF) Scheduled to Post Quarterly Earnings on Tuesday

ON24 (NYSE:ONTF) is set to announce its earnings results after the market closes on Tuesday, May 7th. Analysts expect the company to announce 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 interested in registering for the company’s conference call can do so using this link.

ON24 (NYSE:ONTF) last posted its 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). ON24 had a negative return on equity of 18.49% and a negative net margin of 31.63%. The company had revenue of $39.34 million during the quarter, compared to analysts’ expectations of $37.29 million. During the same period in the prior year, the business posted ($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 Trading Down 3.1 %

NYSE:ONTF opened at $6.61 on Monday. The company has a 50-day moving average price of $6.85 and a 200-day moving average price of $7.13. ON24 has a 12 month low of $5.73 and a 12 month high of $9.55. The stock has a market cap of $276.50 million, a price-to-earnings ratio of -5.75 and a beta of 0.49.

Analyst Upgrades and Downgrades

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

Insider Activity at ON24

In related news, Director Dominique Trempont sold 4,250 shares of ON24 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 completion of the transaction, the director now directly 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. In other ON24 news, insider Sharat Sharan sold 21,465 shares of ON24 stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $6.73, for a total value of $144,459.45. Following the completion of the transaction, the insider now directly owns 3,102,983 shares of the company’s stock, valued at $20,883,075.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dominique Trempont sold 4,250 shares of ON24 stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $8.12, for a total transaction of $34,510.00. Following the completion of the transaction, the director now directly owns 287,185 shares of the company’s stock, valued at $2,331,942.20. 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. Company 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.