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

Vimeo (NASDAQ:VMEO) had its price target increased by Truist Financial from $7.00 to $9.00 in a report published on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Separately, Piper Sandler increased their price objective on shares of Vimeo from $4.50 to $5.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th.

Vimeo Trading Up 44.7 %

Shares of NASDAQ:VMEO opened at $6.96 on Tuesday. The firm’s 50 day moving average is $5.00 and its two-hundred day moving average is $4.33. Vimeo has a 52 week low of $3.25 and a 52 week high of $7.06. The firm has a market capitalization of $1.15 billion, a P/E ratio of 34.80 and a beta of 2.08.

Vimeo (NASDAQ:VMEO) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. Vimeo had a net margin of 7.85% and a return on equity of 8.59%. The company had revenue of $104.56 million for the quarter, compared to analyst estimates of $99.48 million. During the same quarter last year, the business earned $0.05 earnings per share. Vimeo’s revenue was down 1.6% compared to the same quarter last year. Analysts predict that Vimeo will post 0.08 EPS for the current year.

Institutional Trading of Vimeo

A number of large investors have recently added to or reduced their stakes in VMEO. SG Americas Securities LLC boosted its holdings in Vimeo by 129.4% during the first quarter. SG Americas Securities LLC now owns 180,729 shares of the company’s stock worth $739,000 after buying an additional 101,946 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its holdings in Vimeo by 350.1% during the first quarter. Susquehanna Fundamental Investments LLC now owns 275,423 shares of the company’s stock worth $1,126,000 after buying an additional 214,238 shares in the last quarter. Headlands Technologies LLC boosted its holdings in Vimeo by 4,565.2% during the first quarter. Headlands Technologies LLC now owns 11,943 shares of the company’s stock worth $49,000 after buying an additional 11,687 shares in the last quarter. Connors Investor Services Inc. bought a new stake in Vimeo during the first quarter worth approximately $102,000. Finally, Covestor Ltd boosted its holdings in Vimeo by 53.4% during the first 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 currently owned by institutional investors.

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.