Vimeo (NASDAQ:VMEO) Announces Earnings Results, Beats Expectations By $0.05 EPS

Vimeo (NASDAQ:VMEO) announced its earnings results on Monday. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.05, Briefing.com reports. The business had revenue of $104.38 million for the quarter, compared to the consensus estimate of $99.45 million. Vimeo had a net margin of 6.88% and a return on equity of 7.71%. Vimeo’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.03 earnings per share.

Vimeo Stock Up 3.4 %

VMEO stock traded up $0.15 during midday trading on Wednesday, hitting $4.53. The company’s stock had a trading volume of 1,458,670 shares, compared to its average volume of 2,242,825. Vimeo has a 12 month low of $3.02 and a 12 month high of $5.77. The firm has a market capitalization of $766.77 million, a price-to-earnings ratio of 26.65 and a beta of 2.03. The company has a 50 day moving average of $3.78 and a two-hundred day moving average of $3.99.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VMEO. Piper Sandler lifted 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. Truist Financial lifted their price target on shares of Vimeo from $6.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday.

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.