Shares of virtual events software company ON24 (NYSE:ONTF) rose 5.6% after reporting Q2 results beating analyst estimates. Despite revenue of $35.33 million and EPS of $0.02, revenue fell 5.4% YoY and billings dropped 14.3%, signaling demand issues. ON24 raised full-year revenue guidance to $138.2 million but reiterated EPS forecast of $0.04, indicating a mixed outlook.

The market views today’s move as significant for ON24, a stock that has only had 7 moves greater than 5% in the past year. Previous market concerns include a new round of global tariffs and a weak July jobs report, leading to a “risk-off” environment. ON24 is down 22.8% YTD, trading 28.4% below its 52-week high.

Investors who bought $1,000 worth of ON24 shares at the IPO in February 2021 would now have an investment worth $70.88. Looking to the future, enterprise software stocks leveraging generative AI capabilities could be the next Gorillas of the industry.

Read more at StockStory.org – Barchart: Why ON24 (ONTF) Stock Is Up Today