ON24 shares surge 13.57% intraday after reporting strong Q3 results and receiving potential acquisition interest.

ON24 (ONTF) surged 13.57% intraday after reporting stronger-than-expected third-quarter earnings and disclosing potential acquisition interest. The company revealed its board was evaluating preliminary, non-binding acquisition proposals with Goldman Sachs as a financial advisor, signaling possible value creation for shareholders. ON24’s Q3 results included $0.03 earnings per share (beating estimates by $0.02) and $34.6 million in revenue (exceeding forecasts), alongside strategic milestones such as a LinkedIn partnership and growing AI solution adoption. Analysts at Baird and Canaccord raised price targets to $6, reflecting optimism about the company’s prospects. The stock’s sharp intraday gain, the largest in over a year, underscores the market’s positive response to both the acquisition speculation and outperforming financials.