Piper Sandler Upgrades Vimeo (NASDAQ:VMEO) to “Overweight”

Vimeo (NASDAQ:VMEO) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $10.00 price objective on the stock, up from their prior price objective of $7.00. Piper Sandler’s price target would indicate a potential upside of 36.80% from the company’s previous close.

Other research analysts have also recently issued research reports about the company. TD Cowen increased their target price on Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Truist Financial lifted their target price on shares of Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Vimeo Price Performance

Shares of VMEO opened at $7.31 on Tuesday. The business has a 50-day moving average of $5.89 and a 200-day moving average of $4.89. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 36.55 and a beta of 2.23. Vimeo has a 1 year low of $3.43 and a 1 year high of $7.90.

Vimeo (NASDAQ:VMEO) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $104.56 million for the quarter, compared to the consensus estimate of $99.48 million. Vimeo had a return on equity of 8.56% and a net margin of 8.08%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. As a group, sell-side analysts anticipate that Vimeo will post 0.18 EPS for the current year.

Institutional Trading of Vimeo

Several institutional investors and hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC purchased a new stake in shares of Vimeo in the 3rd quarter worth approximately $51,000. Hutchens & Kramer Investment Management Group LLC bought a new stake in Vimeo during the 3rd quarter valued at $54,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Vimeo in the 2nd quarter valued at $42,000. Vanguard Personalized Indexing Management LLC bought a new stake in Vimeo during the second quarter valued at about $41,000. Finally, Nisa Investment Advisors LLC grew its stake in Vimeo by 42.4% in the second quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company’s stock valued at $65,000 after purchasing an additional 5,160 shares during the last quarter. 84.97% of the stock is currently owned by institutional investors.

Vimeo Company Profile

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.