Truist Financial Issues Positive Forecast for Vimeo (NASDAQ:VMEO) Stock Price

Vimeo (NASDAQ:VMEO - Free Report) had its target price lifted by Truist Financial from $7.00 to $9.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Separately, Piper Sandler increased their price target on Vimeo from $4.50 to $5.00 and gave the stock a "neutral" rating in a report on Tuesday, August 6th.

Vimeo Price Performance

NASDAQ VMEO traded up $2.15 during mid-day trading on Tuesday, reaching $6.96. 14,439,309 shares of the stock were exchanged, compared to its average volume of 1,954,314. The stock has a market cap of $1.15 billion, a P/E ratio of 34.80 and a beta of 2.08. Vimeo has a one year low of $3.25 and a one year high of $7.06. The stock has a 50 day simple moving average of $5.00 and a 200-day simple moving average of $4.33.

Vimeo (NASDAQ:VMEO - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. 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 8.59% and a net margin of 7.85%. The firm had revenue of $104.56 million during the quarter, compared to analyst estimates of $99.48 million. During the same period last year, the company posted $0.05 EPS. The business's quarterly revenue was down 1.6% on a year-over-year basis. Sell-side analysts anticipate that Vimeo will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, CEO Philip D. Moyer acquired 32,051 shares of the firm's stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $4.67 per share, for a total transaction of $149,678.17. Following the completion of the acquisition, the chief executive officer now directly owns 1,712,490 shares in the company, valued at $7,997,328.30. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 6.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Vimeo in the 2nd quarter worth about $41,000. DekaBank Deutsche Girozentrale bought a new stake in Vimeo during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC raised its stake in shares of Vimeo by 4,565.2% in 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 last quarter. Hutchens & Kramer Investment Management Group LLC bought a new position in shares of Vimeo in the third quarter valued at approximately $54,000. Finally, Covestor Ltd lifted its holdings in shares of Vimeo by 53.4% in the first quarter. Covestor Ltd now owns 13,629 shares of the company's stock valued at $56,000 after purchasing an additional 4,743 shares in the last quarter. 84.97% of the stock is owned by institutional investors.

Vimeo Company Profile

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.