ON24, Inc. (NYSE:ONTF) Receives $6.00 Consensus PT from Analysts

Shares of ON24, Inc. (NYSE:ONTF) have earned a consensus rating of “Reduce” from the six analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $6.00.

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

ON24 Stock Performance

Shares of ONTF opened at $5.94 on Friday. The firm’s 50-day simple moving average is $5.54 and its 200 day simple moving average is $5.46. The firm has a market cap of $251.31 million, a P/E ratio of -8.03 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 issued its quarterly earnings data on Monday, November 10th. The company reported $0.03 earnings per share (EPS) 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 analysts’ expectations 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. As a group, equities analysts forecast that ON24 will post -0.81 earnings per share for the current year.

Insider Buying and Selling at ON24

In other news, insider Sharat Sharan sold 32,211 shares of ON24 stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $5.30, for a total value of $170,718.30. Following the completion of the sale, the insider directly owned 3,613,147 shares in the company, valued at approximately $19,149,679.10. The trade was a 0.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jayesh Sahasi sold 12,372 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $5.70, for a total value of $70,520.40. Following the sale, the insider directly owned 718,961 shares in the company, valued at $4,098,077.70. This represents a 1.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 202,764 shares of company stock valued at $1,125,355 over the last ninety days. Company insiders own 33.00% of the company’s stock.

Institutional Trading of ON24

Several large investors have recently modified their holdings of ONTF. Jacobs Levy Equity Management Inc. raised its stake in ON24 by 4.7% in the third quarter. Jacobs Levy Equity Management Inc. now owns 305,720 shares of the company’s stock valued at $1,749,000 after purchasing an additional 13,600 shares in the last quarter. Prelude Capital Management LLC increased its holdings in ON24 by 33.9% in the 3rd quarter. Prelude Capital Management LLC now owns 17,000 shares of the company’s stock valued at $97,000 after buying an additional 4,300 shares during the period. Public Employees Retirement System of Ohio increased its holdings in ON24 by 22.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 14,942 shares of the company’s stock valued at $85,000 after buying an additional 2,700 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of ON24 in the 3rd quarter valued at approximately $60,000. Finally, Millennium Management LLC bought a new stake in shares of ON24 during the 3rd quarter worth approximately $175,000. 83.93% of the stock is owned by institutional investors and hedge funds.

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.