William Blair Issues Pessimistic Estimate for ON24 Earnings

ON24, Inc. (NYSE:ONTF - Free Report) - Analysts at William Blair decreased their Q1 2025 EPS estimates for ON24 in a research note issued to investors on Wednesday, February 26th. William Blair analyst A. Bhatia now expects that the company will post earnings of ($0.30) per share for the quarter, down from their previous forecast of ($0.11). William Blair has a "Market Perform" rating on the stock. The consensus estimate for ON24's current full-year earnings is ($0.81) per share. William Blair also issued estimates for ON24's FY2025 earnings at ($1.02) EPS and FY2026 earnings at ($0.95) EPS.

Several other research firms also recently issued reports on ONTF. JPMorgan Chase & Co. decreased their price objective on shares of ON24 from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "hold" rating on shares of ON24 in a report on Wednesday, February 26th.

ON24 Stock Down 1.3 %

ONTF stock traded down $0.07 during trading hours on Monday, hitting $5.51. The company's stock had a trading volume of 329,967 shares, compared to its average volume of 110,992. The company has a market capitalization of $229.50 million, a PE ratio of -5.30 and a beta of 0.52. ON24 has a 12 month low of $5.37 and a 12 month high of $7.38. The stock has a 50 day moving average price of $6.55 and a two-hundred day moving average price of $6.41.

Hedge Funds Weigh In On ON24

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC raised its stake in shares of ON24 by 56.6% in the 4th quarter. Squarepoint Ops LLC now owns 15,804 shares of the company's stock valued at $102,000 after buying an additional 5,713 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of ON24 by 11.9% in the 4th quarter. Two Sigma Investments LP now owns 175,366 shares of the company's stock valued at $1,133,000 after buying an additional 18,647 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of ON24 by 11.4% in the 4th quarter. Two Sigma Advisers LP now owns 256,900 shares of the company's stock valued at $1,660,000 after buying an additional 26,200 shares in the last quarter. Millennium Management LLC raised its stake in shares of ON24 by 84.8% in the 4th quarter. Millennium Management LLC now owns 142,387 shares of the company's stock valued at $920,000 after buying an additional 65,322 shares in the last quarter. Finally, Circumference Group LLC raised its stake in shares of ON24 by 15.9% in the 4th quarter. Circumference Group LLC now owns 394,196 shares of the company's stock valued at $2,547,000 after buying an additional 54,000 shares in the last quarter. 83.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Dominique Trempont sold 4,250 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $6.98, for a total transaction of $29,665.00. Following the completion of the transaction, the director now directly owns 263,100 shares in the company, valued at $1,836,438. This represents a 1.59 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sharat Sharan sold 36,189 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $6.20, for a total transaction of $224,371.80. Following the transaction, the insider now owns 3,113,728 shares of the company's stock, valued at approximately $19,305,113.60. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 157,131 shares of company stock valued at $1,034,442. Company insiders own 32.30% 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.