Brokerages Set ON24, Inc. (NYSE:ONTF) PT at $7.40

Shares of ON24, Inc. (NYSE:ONTF) have received a consensus recommendation of “Reduce” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $7.40.

Several analysts have commented on ONTF shares. Weiss Ratings reissued a “sell (d-)” rating on shares of ON24 in a research report on Thursday, January 22nd. Robert W. Baird raised their price target on shares of ON24 from $6.00 to $8.10 and gave the company a “neutral” rating in a report on Friday, January 2nd. Canaccord Genuity Group upped their price objective on shares of ON24 from $6.00 to $8.10 and gave the stock a “hold” rating in a report on Wednesday, December 31st. Finally, Wall Street Zen raised shares of ON24 from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th.

Insider Buying and Selling

In other ON24 news, insider Sharat Sharan sold 50,332 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $7.97, for a total transaction of $401,146.04. Following the transaction, the insider owned 3,622,559 shares in the company, valued at $28,871,795.23. This trade represents a 1.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jayesh Sahasi sold 34,753 shares of ON24 stock in a transaction that occurred on Tuesday, December 30th. The shares were sold at an average price of $7.98, for a total transaction of $277,328.94. Following the completion of the transaction, the insider directly owned 672,527 shares in the company, valued at approximately $5,366,765.46. This represents a 4.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 338,716 shares of company stock valued at $2,327,474 over the last 90 days. 33.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in ON24 by 139.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,852 shares of the company’s stock worth $39,000 after acquiring an additional 2,825 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of ON24 in the third quarter worth about $60,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of ON24 during the 3rd quarter worth about $61,000. Public Employees Retirement System of Ohio boosted its stake in ON24 by 228.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 12,242 shares of the company’s stock valued at $66,000 after purchasing an additional 8,515 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new stake in ON24 in the 2nd quarter valued at approximately $78,000. 83.93% of the stock is currently owned by institutional investors and hedge funds.

ON24 Price Performance

Shares of NYSE ONTF opened at $7.98 on Friday. ON24 has a one year low of $4.35 and a one year high of $8.10. The business’s 50-day moving average price is $6.90 and its two-hundred day moving average price is $5.94. The company has a market capitalization of $337.18 million, a P/E ratio of -10.78 and a beta of 0.61.

ON24 (NYSE:ONTF) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $34.60 million during the quarter, compared to the consensus estimate of $33.87 million. ON24 had a negative return on equity of 18.61% and a negative net margin of 22.09%.ON24 has set its FY 2025 guidance at 0.050-0.060 EPS and its Q4 2025 guidance at 0.010-0.020 EPS. On average, equities analysts anticipate that ON24 will post -0.81 EPS for the current year.

About ON24

ON24, Inc (NYSE: ONTF) is a cloud-based digital experience platform that enables organizations to create, manage and optimize virtual events, webinars and multimedia content. The company’s technology is designed to facilitate interactive, data-driven engagement between enterprises and their audiences, supporting demand generation, lead nurturing, corporate communications and training initiatives.

At the core of ON24’s offering is its webinar and virtual event solution, which provides live and on-demand webcasting, attendee interaction tools and real-time analytics.