Vimeo (NASDAQ:VMEO) Sets New 1-Year High – Here’s What Happened

Vimeo, Inc. (NASDAQ:VMEO)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $7.55 and last traded at $7.55, with a volume of 53369 shares trading hands. The stock had previously closed at $7.00.

Analyst Ratings Changes

Several equities research analysts have recently commented on VMEO shares. Truist Financial lifted their price target 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. Piper Sandler raised Vimeo from a “neutral” rating to an “overweight” rating and increased their price target for the company from $7.00 to $10.00 in a research note on Tuesday. Finally, TD Cowen upped their price objective on Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday, November 5th.

Vimeo Stock Up 7.9 %

The company has a market capitalization of $1.25 billion, a P/E ratio of 35.00 and a beta of 2.23. The firm has a fifty day simple moving average of $5.79 and a 200-day simple moving average of $4.85.

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

Hedge Funds Weigh In On Vimeo

A number of hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its stake in Vimeo by 3.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 181,579 shares of the company’s stock worth $743,000 after acquiring an additional 5,776 shares during the period. Dynamic Advisor Solutions LLC lifted its position in Vimeo by 52.1% during the second quarter. Dynamic Advisor Solutions LLC now owns 18,595 shares of the company’s stock worth $69,000 after purchasing an additional 6,370 shares during the period. Nisa Investment Advisors LLC grew its stake in Vimeo by 42.4% during the second quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company’s stock worth $65,000 after buying an additional 5,160 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Vimeo by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,944 shares of the company’s stock valued at $2,383,000 after buying an additional 34,316 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Vimeo by 6.8% in the 2nd quarter. Principal Financial Group Inc. now owns 79,941 shares of the company’s stock valued at $298,000 after buying an additional 5,107 shares in the last quarter. 84.97% of the stock is owned by institutional investors.

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.