Vimeo (NASDAQ:VMEO) Hits New 12-Month High After Better-Than-Expected Earnings

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

The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. The business had revenue of $104.56 million for the quarter, compared to the consensus estimate of $99.48 million. Vimeo had a net margin of 8.08% and a return on equity of 8.66%. Vimeo’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company posted $0.05 EPS.

Wall Street Analyst Weigh In

VMEO has been the subject of several research analyst reports. Piper Sandler reissued a “neutral” rating and issued a $7.00 price target (up previously from $5.00) on shares of Vimeo in a report on Tuesday. TD Cowen increased their price target on Vimeo from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Tuesday. Finally, Truist Financial lifted their price objective on Vimeo from $7.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday.

Institutional Investors Weigh In On Vimeo

Institutional investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC lifted its holdings in shares of Vimeo by 350.1% in the first quarter. Susquehanna Fundamental Investments LLC now owns 275,423 shares of the company’s stock valued at $1,126,000 after purchasing an additional 214,238 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Vimeo by 18.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 928,413 shares of the company’s stock valued at $3,797,000 after acquiring an additional 143,025 shares in the last quarter. Divisar Capital Management LLC boosted its position in Vimeo by 10.5% during the 2nd quarter. Divisar Capital Management LLC now owns 8,388,993 shares of the company’s stock worth $31,291,000 after acquiring an additional 800,000 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Vimeo by 14.8% during the 2nd quarter. Renaissance Technologies LLC now owns 6,292,354 shares of the company’s stock worth $23,470,000 after acquiring an additional 808,954 shares in the last quarter. Finally, Headlands Technologies LLC raised its holdings 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 valued at $49,000 after purchasing an additional 11,687 shares during the last quarter. 84.97% of the stock is owned by institutional investors.

Vimeo Price Performance

The firm has a market cap of $1.12 billion, a P/E ratio of 33.80 and a beta of 2.08. The stock’s 50-day moving average price is $5.03 and its 200 day moving average price is $4.36.

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.