Vimeo (NASDAQ:VMEO) Shares Gap Up – Here’s Why

Vimeo, Inc. (NASDAQ:VMEO)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $5.30, but opened at $5.52. Vimeo shares last traded at $5.69, with a volume of 385,741 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on VMEO shares. Truist Financial raised their target price on Vimeo from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. TD Cowen lifted their target price 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. Finally, Piper Sandler upgraded shares of Vimeo from a “neutral” rating to an “overweight” rating and increased their target price for the company from $7.00 to $10.00 in a research report on Tuesday, December 10th.

Vimeo Stock Up 6.3 %

The firm has a market capitalization of $934.56 million, a PE ratio of 35.10 and a beta of 2.21. The business has a 50-day moving average price of $6.50 and a 200-day moving average price of $5.91.

Vimeo (NASDAQ:VMEO) last issued its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $103.16 million during the quarter, compared to the consensus estimate of $100.60 million. Vimeo had a return on equity of 6.72% and a net margin of 6.48%. On average, equities research analysts anticipate that Vimeo, Inc. will post 0.16 earnings per share for the current year.

Institutional Trading of Vimeo

Several hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC lifted its holdings in Vimeo by 780.4% in the fourth quarter. Sterling Capital Management LLC now owns 4,578 shares of the company’s stock valued at $29,000 after acquiring an additional 4,058 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Vimeo during the fourth quarter valued at about $30,000. Allworth Financial LP raised its stake in shares of Vimeo by 5,662.8% in the 4th quarter. Allworth Financial LP now owns 4,956 shares of the company’s stock valued at $31,000 after acquiring an additional 4,870 shares during the period. Wealthfront Advisers LLC purchased a new stake in shares of Vimeo in the 4th quarter valued at approximately $36,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of Vimeo by 919.9% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,231 shares of the company’s stock worth $46,000 after acquiring an additional 6,522 shares during the last quarter. Hedge funds and other 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.