Cautious Hold on ON24 Amid Uncertain ARR Outlook and Valuation Concerns
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William Blair analyst Arjun Bhatia has maintained a Hold rating on ON24 (ONTF) stock due to concerns over the company's uncertain annual recurring revenue (ARR) outlook and valuation issues. Despite a slight beat in third-quarter core platform revenue, ARR declined due to slower new bookings and challenges in the life sciences sector. Management is optimistic about ARR growth into 2026, but Bhatia seeks more evidence of stable growth before upgrading the rating. Another report also reiterated a Hold rating with a $5.00 price target.
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