Vimeo (NASDAQ:VMEO) Price Target Raised to $9.00

Vimeo (NASDAQ:VMEO) had its price target hoisted by Truist Financial from $7.00 to $9.00 in a report released on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Separately, Piper Sandler boosted their target price on shares of Vimeo from $4.50 to $5.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th.

Vimeo Price Performance

Shares of VMEO opened at $7.00 on Tuesday. The company has a market capitalization of $1.16 billion, a P/E ratio of 33.70 and a beta of 2.08. Vimeo has a one year low of $3.43 and a one year high of $7.18. The business’s 50 day simple moving average is $5.07 and its 200-day simple moving average is $4.37.

Vimeo (NASDAQ:VMEO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Vimeo had a return on equity of 8.66% and a net margin of 8.08%. The company had revenue of $104.56 million for the quarter, compared to analyst estimates of $99.48 million. During the same quarter in the previous year, the firm earned $0.05 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Vimeo will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Vimeo

Several large investors have recently made changes to their positions in the company. Royce & Associates LP raised its holdings in Vimeo by 51.7% during the 3rd quarter. Royce & Associates LP now owns 613,061 shares of the company’s stock worth $3,096,000 after purchasing an additional 209,033 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Vimeo by 134.9% in the 3rd quarter. GSA Capital Partners LLP now owns 162,488 shares of the company’s stock valued at $821,000 after purchasing an additional 93,303 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Vimeo during the 3rd quarter worth approximately $166,000. River Global Investors LLP raised its stake in shares of Vimeo by 3.8% during the third quarter. River Global Investors LLP now owns 367,969 shares of the company’s stock worth $1,860,000 after buying an additional 13,345 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in Vimeo by 115.3% in the third quarter. Covestor Ltd now owns 28,298 shares of the company’s stock valued at $143,000 after buying an additional 15,157 shares during the period. Institutional investors and hedge funds own 84.97% of the company’s stock.

About Vimeo

Vimeo, Inc, together with its subsidiaries, provides video software solutions worldwide. It provides the video tools through a software-as-a-service model, which enables its users to create, collaborate, and communicate with video on a single platform. The company also offers over-the-top OTT streaming and monetization services; AI-driven video creation and editing tools; and interactive and shoppable video tools.