Vimeo (NASDAQ:VMEO) Sets New 1-Year High Following Better-Than-Expected Earnings

Vimeo, Inc. (NASDAQ:VMEO)’s share price hit a new 52-week high during trading on Tuesday following a stronger than expected earnings report. The company traded as high as $6.81 and last traded at $6.65, with a volume of 1113712 shares. The stock had previously closed at $4.81.

The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The business had revenue of $104.56 million during the quarter, compared to analysts’ expectations of $99.48 million. Vimeo had a return on equity of 8.59% and a net margin of 7.85%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.05 EPS.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VMEO. Piper Sandler reiterated a “neutral” rating and issued a $7.00 price target (up from $5.00) on shares of Vimeo in a research note on Tuesday. Truist Financial lifted their price objective on shares of Vimeo from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, TD Cowen upped their target price on Vimeo from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Tuesday.

Institutional Investors Weigh In On Vimeo

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC grew its holdings in shares of Vimeo by 350.1% during the first quarter. Susquehanna Fundamental Investments LLC now owns 275,423 shares of the company’s stock worth $1,126,000 after purchasing an additional 214,238 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in Vimeo by 18.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 928,413 shares of the company’s stock worth $3,797,000 after acquiring an additional 143,025 shares during the last quarter. Divisar Capital Management LLC increased its position in Vimeo by 10.5% in the 2nd quarter. Divisar Capital Management LLC now owns 8,388,993 shares of the company’s stock valued at $31,291,000 after acquiring an additional 800,000 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Vimeo by 14.8% during the second quarter. Renaissance Technologies LLC now owns 6,292,354 shares of the company’s stock worth $23,470,000 after purchasing an additional 808,954 shares during the period. Finally, Headlands Technologies LLC lifted its holdings in shares of Vimeo by 4,565.2% during the first quarter. Headlands Technologies LLC now owns 11,943 shares of the company’s stock worth $49,000 after purchasing an additional 11,687 shares during the period. Institutional investors own 84.97% of the company’s stock.

Vimeo Stock Up 44.7 %

The company has a market cap of $1.15 billion, a P/E ratio of 34.80 and a beta of 2.08. The firm’s 50 day moving average is $5.00 and its two-hundred day moving average is $4.33.

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.