TD Cowen Forecasts Strong Price Appreciation for Vimeo (NASDAQ:VMEO) Stock

Vimeo (NASDAQ:VMEO) had its price target boosted by research analysts at TD Cowen from $6.00 to $7.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price suggests a potential upside of 3.86% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. Piper Sandler reiterated a “neutral” rating and set a $7.00 price target (up previously from $5.00) on shares of Vimeo in a research note on Tuesday. Truist Financial increased their target price on shares of Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research note on Tuesday.

Vimeo Price Performance

Shares of VMEO opened at $6.74 on Tuesday. Vimeo has a 1-year low of $3.43 and a 1-year high of $7.18. The stock has a market cap of $1.12 billion, a PE ratio of 33.70 and a beta of 2.08. The firm has a fifty day moving average price of $5.03 and a 200 day moving average price of $4.36.

Vimeo (NASDAQ:VMEO) last released its quarterly earnings results on Monday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The firm had revenue of $104.56 million for the quarter, compared to the consensus estimate of $99.48 million. Vimeo had a return on equity of 8.66% and a net margin of 8.08%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. As a group, equities analysts expect that Vimeo will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Vimeo

Institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its holdings in shares of Vimeo by 2.5% in the second quarter. Hsbc Holdings PLC now owns 89,527 shares of the company’s stock valued at $336,000 after acquiring an additional 2,180 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its position in Vimeo by 18.1% in the third 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 boosted its holdings in Vimeo by 6.0% in the 3rd quarter. Bleakley Financial Group LLC now owns 59,045 shares of the company’s stock valued at $298,000 after purchasing an additional 3,327 shares in the last quarter. Connors Investor Services Inc. increased its position in Vimeo by 16.0% during the 2nd quarter. Connors Investor Services Inc. now owns 29,000 shares of the company’s stock worth $108,000 after purchasing an additional 4,000 shares during the period. Finally, Covestor Ltd raised its stake in shares of Vimeo by 53.4% during the 1st quarter. Covestor Ltd now owns 13,629 shares of the company’s stock worth $56,000 after buying an additional 4,743 shares in 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.