Vimeo (NASDAQ:VMEO) Shares Gap Down - Here's Why

Shares of Vimeo, Inc. (NASDAQ:VMEO - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $6.78, but opened at $5.58. Vimeo shares last traded at $5.36, with a volume of 3,262,050 shares changing hands.

Analyst Ratings Changes

VMEO has been the topic of a number of research analyst reports. Truist Financial upped their price target 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 upped their target price on Vimeo from $6.00 to $7.00 and gave the company a "hold" rating in a research report on Tuesday, November 5th. Finally, Piper Sandler upgraded Vimeo from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $7.00 to $10.00 in a report on Tuesday, December 10th.

Vimeo Price Performance

The firm has a market capitalization of $895.59 million, a price-to-earnings ratio of 33.75 and a beta of 2.21. The business's fifty day simple moving average is $6.53 and its 200 day simple moving average is $5.88.

Vimeo (NASDAQ:VMEO - Get Free Report) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Vimeo had a return on equity of 6.75% and a net margin of 6.48%. The company had revenue of $103.16 million during the quarter, compared to the consensus estimate of $100.60 million. Equities research analysts expect that Vimeo, Inc. will post 0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vimeo

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quintet Private Bank Europe S.A. grew its position in Vimeo by 18.1% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 20,000 shares of the company's stock valued at $101,000 after purchasing an additional 3,063 shares during the period. Bleakley Financial Group LLC lifted its stake in shares of Vimeo by 6.0% in the third quarter. Bleakley Financial Group LLC now owns 59,045 shares of the company's stock valued at $298,000 after buying an additional 3,327 shares in the last quarter. Algert Global LLC grew its holdings in shares of Vimeo by 3.5% during the third quarter. Algert Global LLC now owns 100,110 shares of the company's stock valued at $506,000 after buying an additional 3,352 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Vimeo by 6.5% during the fourth quarter. Principal Financial Group Inc. now owns 62,105 shares of the company's stock worth $397,000 after acquiring an additional 3,793 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in shares of Vimeo by 780.4% in the 4th quarter. Sterling Capital Management LLC now owns 4,578 shares of the company's stock worth $29,000 after acquiring an additional 4,058 shares during the last quarter. Institutional investors own 84.97% of the company's stock.

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.