2024-02-25 18:30:00 ET
Summary
- ON24's actual Q4 2023 normalized EPS was triple what the Wall Street analysts had anticipated as a result of good cost control efforts.
- But the company is expecting a decline in its revenue and earnings this year, and ONTF might possibly prioritize capital investment over capital return in 2024.
- My rating for ON24 stock is downgraded to a Hold, after taking into account both the positive and negative read-throughs from its recent disclosures.
Elevator Pitch
I have a Hold investment rating for ON24, Inc. ( ONTF ) shares.
Previously, I highlighted that ON24's valuations were undemanding based on the price-to-revenue metric in my earlier article written on October 12, 2023. The focus of the current write-up is the review of ONTF's recently announced results for the final quarter of the prior year....
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For further details see:
ON24: Turning Neutral Considering Guidance And Capital Allocation (Rating Downgrade)