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

Vimeo (NASDAQ:VMEO - Get Free Report) was upgraded by analysts at Piper Sandler from a "neutral" rating to an "overweight" rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $10.00 price target on the stock, up from their previous price target of $7.00. Piper Sandler's target price suggests a potential upside of 36.61% from the company's previous close.

A number of other brokerages have also weighed in on VMEO. Truist Financial raised their price objective on Vimeo from $7.00 to $9.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. TD Cowen lifted 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 Stock Up 4.6 %

Shares of NASDAQ VMEO traded up $0.32 on Tuesday, hitting $7.32. The company had a trading volume of 4,056,353 shares, compared to its average volume of 1,917,353. The firm has a market capitalization of $1.21 billion, a P/E ratio of 38.15 and a beta of 2.23. Vimeo has a 12-month low of $3.43 and a 12-month high of $7.90. The business has a 50 day moving average of $5.79 and a two-hundred day moving average of $4.85.

Vimeo (NASDAQ:VMEO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. Vimeo had a net margin of 8.08% and a return on equity of 8.56%. The company had revenue of $104.56 million during the quarter, compared to the consensus estimate of $99.48 million. During the same quarter last year, the company earned $0.05 earnings per share. Vimeo's revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts anticipate that Vimeo will post 0.18 earnings per share for the current year.

Institutional Investors Weigh In On Vimeo

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Vimeo during the second quarter worth about $41,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Vimeo during the 2nd quarter worth approximately $42,000. EP Wealth Advisors LLC bought a new stake in shares of Vimeo in the 3rd quarter worth approximately $51,000. Hutchens & Kramer Investment Management Group LLC acquired a new position in Vimeo during the 3rd quarter valued at approximately $54,000. Finally, Nisa Investment Advisors LLC grew its stake in Vimeo by 42.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company's stock worth $65,000 after buying an additional 5,160 shares during the last quarter. 84.97% of the stock is owned by institutional investors and hedge funds.

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.