Vimeo (NASDAQ:VMEO) Hits New 12-Month High on Strong Earnings

Vimeo, Inc. (NASDAQ:VMEO - Get Free Report) shares hit a new 52-week high during trading on Tuesday following a better than expected earnings announcement. 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 analysts' consensus estimates of $0.01 by $0.04. The company had revenue of $104.56 million during the quarter, compared to the consensus estimate of $99.48 million. Vimeo had a net margin of 7.85% and a return on equity of 8.59%. The company's revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Truist Financial lifted their price target on Vimeo from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Tuesday. TD Cowen increased their price objective on Vimeo from $6.00 to $7.00 and gave the stock a "hold" rating in a report on Tuesday. Finally, Piper Sandler restated a "neutral" rating and issued a $7.00 target price (up previously from $5.00) on shares of Vimeo in a research note on Tuesday.

Insider Buying and Selling

In related news, CEO Philip D. Moyer purchased 32,051 shares of the business's stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $4.67 per share, for a total transaction of $149,678.17. Following the completion of the purchase, the chief executive officer now owns 1,712,490 shares in the company, valued at approximately $7,997,328.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Vimeo by 288.9% in the 1st quarter. Principal Financial Group Inc. now owns 74,834 shares of the company's stock valued at $306,000 after purchasing an additional 55,593 shares in the last quarter. SG Americas Securities LLC boosted its position in Vimeo by 129.4% in the first quarter. SG Americas Securities LLC now owns 180,729 shares of the company's stock valued at $739,000 after buying an additional 101,946 shares in the last quarter. Susquehanna Fundamental Investments LLC grew its stake 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 buying an additional 214,238 shares during the last quarter. Headlands Technologies LLC increased 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 buying an additional 11,687 shares in the last quarter. Finally, Connors Investor Services Inc. bought a new position in shares of Vimeo in the 1st quarter valued at $102,000. Institutional investors own 84.97% of the company's stock.

Vimeo Trading Up 44.7 %

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

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.