ON24 Inc. (NYSE:ONTF) closed Wednesday at $7.43 per share, up from $7.39 a day earlier. While ON24 Inc. has overperformed by 0.54%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ONTF fell by -52.83%, with highs and lows ranging from $17.99 to $6.95, whereas the simple moving average fell by -32.14% in the last 200 days.
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On September 13, 2022, KeyBanc Capital Markets started tracking ON24 Inc. (NYSE: ONTF) recommending Sector Weight. A report published by Needham on May 11, 2022, Downgraded its rating to ‘Hold’ for ONTF. Piper Sandler March 01, 2022d its ‘Overweight’ rating to ‘Neutral’ for ONTF, as published in its report on March 01, 2022. JP Morgan’s report from August 11, 2021 suggests a price prediction of $32 for ONTF shares, giving the stock a ‘Neutral’ rating. Canaccord Genuity also rated the stock as ‘Hold’.
Analysis of ON24 Inc. (ONTF)
Further, the quarter-over-quarter decrease in sales is -3.60%, showing a negative trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of ON24 Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -16.80% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and ONTF is recording an average volume of 367.29K. On a monthly basis, the volatility of the stock is set at 4.66%, whereas on a weekly basis, it is put at 3.64%, with a loss of -4.74% over the past seven days. Furthermore, long-term investors anticipate a median target price of $9.75, showing growth from the present price of $7.43, which can serve as yet another indication of whether ONTF is worth investing in or should be passed over.
How Do You Analyze ON24 Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 2.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 75.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in ONTF shares?
The recent increase in stakes in ONTF appears to be a result of several institutional investors and hedge funds increasing their positions. Lynrock Lake LP’s position in ONTF has increased by 7.45% in the first quarter. The company now owns 6,666,666 shares of the stock, with a value of $54.27 million, following the purchase of 462,478 additional shares during the last quarter. During the last quarter, the company picked up 0 additional shares for a total stake of worth $34.52 million, bringing number of shares owned by the company to 4,240,256.
During the first quarter, The Vanguard Group, Inc. added a 17,640 position in ONTF. BlackRock Fund Advisors purchased an additional 0.51 million shares in the last quarter, increasing its holdings by 25.34%, now holding 2.53 million shares worth $20.61 million. ONTF shares are owned by institutional investors to the tune of 75.90% at present.