Vimeo (NASDAQ:VMEO) Stock Rating Upgraded by Piper Sandler

Vimeo (NASDAQ:VMEO) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat.com reports. The firm currently has a $10.00 price objective on the stock, up from their prior price objective of $7.00. Piper Sandler’s price objective would indicate a potential upside of 42.86% from the stock’s previous close.

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

Vimeo Price Performance

NASDAQ:VMEO opened at $7.00 on Tuesday. Vimeo has a one year low of $3.43 and a one year high of $7.28. The company has a fifty day moving average price of $5.79 and a 200 day moving average price of $4.85. The stock has a market cap of $1.16 billion, a P/E ratio of 35.00 and a beta of 2.23.

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

Hedge Funds Weigh In On Vimeo

Several institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Vimeo by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 145,603 shares of the company’s stock valued at $702,000 after purchasing an additional 4,134 shares during the last quarter. Barclays PLC increased its stake in shares of Vimeo by 203.9% in the third quarter. Barclays PLC now owns 240,655 shares of the company’s stock valued at $1,215,000 after buying an additional 161,469 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Vimeo by 5.0% in the third quarter. Geode Capital Management LLC now owns 3,770,805 shares of the company’s stock valued at $19,046,000 after buying an additional 181,137 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Vimeo in the third quarter valued at about $51,000. Finally, Point72 DIFC Ltd acquired a new position in Vimeo during the 3rd quarter worth about $141,000. 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.