Vimeo (NASDAQ:VMEO) Upgraded by Piper Sandler to “Overweight” Rating

Piper Sandler upgraded shares of Vimeo (NASDAQ:VMEO) from a neutral rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat.com reports. Piper Sandler currently has $10.00 target price on the stock, up from their previous target price of $7.00.

A number of other equities analysts have also weighed in on VMEO. TD Cowen lifted their price target on shares of Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Truist Financial increased their target price on Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

Vimeo Stock Up 4.6 %

Shares of NASDAQ:VMEO opened at $7.32 on Tuesday. The business has a fifty day simple moving average of $5.84 and a 200-day simple moving average of $4.87. Vimeo has a 52 week low of $3.43 and a 52 week high of $7.90. The company has a market cap of $1.21 billion, a P/E ratio of 36.60 and a beta of 2.23.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Vimeo in the 2nd quarter valued at $41,000. DekaBank Deutsche Girozentrale purchased a new position in Vimeo in the second quarter valued at about $42,000. EP Wealth Advisors LLC acquired a new position in shares of Vimeo during the third quarter worth about $51,000. Hutchens & Kramer Investment Management Group LLC purchased a new stake in shares of Vimeo in the third quarter worth about $54,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of 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 buying an additional 5,160 shares in the last quarter. 84.97% of the stock is owned by institutional investors and hedge funds.

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.