Sales and marketing platform ON24, Inc. (ONTF) has acquired cloud video software company VIBBIO. VIBBIO empowers businesses to create and edit professional videos without the need for prior expertise.
The integration of VIBBIO with ON24 will enable customers to engage audiences in new ways while also delivering personalized experiences.
Management Weighs In
The founder and CEO of ON24, Sharat Sharan, commented, “We continue to invest in building the most powerful sales and marketing platform to engage audiences in new ways and deliver greater insights across the buyer journey. VIBBIO will put video content creation in the hands of every salesperson and marketer to extend the life of their ON24 digital experiences and connect with audiences in multiple digital channels.”
The CEO and founder of VIBBIO, Marianne Bratt Ricketts, said, “The VIBBIO team is excited to join the ON24 family and bring our technology to more organizations. With the freedom to create personalized, professional videos quickly and easily, customers will be able to expand what they can do with ON24.”
While the financial terms of the deal remained undisclosed, the transaction is not expected to materially impact ON24’s 2022 financials.
Analyst Take
Robert W. Baird analyst Robert Oliver has reiterated a Hold rating on the stock alongside a price target of $18.
Overall, the Street is cautiously optimistic about ON24 with a Moderate Buy consensus rating based on two Buys and five Holds. The average ON24 price target of $18.58 implies a potential upside of 35.32%. That’s after a nearly 21.2% decline in share prices so far this year.
Closing Note
With this move, ON24 empowers every salesperson and marketer to drive client engagement and produce first-party data while making branded videos a central part of companies’ sales and marketing tactics.
Furthermore, the TipRanks database highlights some key positives for ON24 stock. The hedge fund confidence signal for ON24 is very positive based on the activities of four hedge funds that increased holdings in the company by 596,000 shares in the last quarter.
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