Can ON24 (ONTF) Run Higher on Rising Earnings Estimates?

Core Viewpoint - ON24 (ONTF) shows potential as a solid investment due to notable revisions in the company's earnings estimates, with an improving earnings outlook suggesting continued stock price gains [1][2]. Earnings Estimate Revisions - The trend of rising estimate revisions reflects growing analyst optimism regarding ON24's earnings prospects, which is expected to positively influence its stock price [2]. - For the current quarter, the earnings estimate is $0.02 per share, indicating a decrease of 66.7% from the previous year. However, there has been a positive revision, with the Zacks Consensus Estimate increasing by 11.77% over the last 30 days [7]. - For the full year, ON24 is projected to earn $0.06 per share, a decline of 53.9% from the prior year. The consensus estimate has also risen by 6.06% due to one upward revision and no negative revisions in the past month [8][9]. Zacks Rank and Performance - ON24 has achieved a Zacks Rank 2 (Buy), indicating favorable estimate revisions that suggest strong potential for stock performance. The Zacks Rank system has a proven track record, with Zacks 1 (Strong Buy) and 2 (Buy) stocks significantly outperforming the S&P 500 [10]. - The stock has appreciated by 7.6% over the past four weeks, reflecting investor confidence in its earnings growth prospects [11].