Piper Sandler Reiterates “Neutral” Rating for Vimeo (NASDAQ:VMEO)

Vimeo (NASDAQ:VMEO)‘s stock had its “neutral” rating reaffirmed by analysts at Piper Sandler in a research report issued on Tuesday, Benzinga reports. They currently have a $4.50 price target on the stock, up from their previous price target of $4.00. Piper Sandler’s target price points to a potential upside of 14.21% from the company’s previous close.

Vimeo Price Performance

Shares of VMEO opened at $3.94 on Tuesday. The firm has a market capitalization of $662.08 million, a price-to-earnings ratio of 30.31 and a beta of 2.02. The company has a 50-day moving average of $4.26 and a 200 day moving average of $3.92. Vimeo has a 1-year low of $3.02 and a 1-year high of $5.77.

Vimeo (NASDAQ:VMEO) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $104.91 million during the quarter, compared to analyst estimates of $100.40 million. Vimeo had a return on equity of 6.07% and a net margin of 5.28%. The company’s revenue was up 1.3% compared to the same quarter last year.

Institutional Trading of Vimeo

A number of hedge funds have recently added to or reduced their stakes in VMEO. Covestor Ltd lifted its stake in shares of Vimeo by 3,726.9% during the 3rd quarter. Covestor Ltd now owns 9,108 shares of the company’s stock worth $32,000 after purchasing an additional 8,870 shares during the last quarter. Headlands Technologies LLC increased its position in Vimeo by 4,565.2% during the 1st quarter. Headlands Technologies LLC now owns 11,943 shares of the company’s stock valued at $49,000 after buying an additional 11,687 shares in the last quarter. Perigon Wealth Management LLC purchased a new stake in Vimeo in the fourth quarter valued at about $47,000. Qtron Investments LLC acquired a new stake in Vimeo in the fourth quarter worth about $50,000. Finally, Victory Capital Management Inc. boosted its holdings in Vimeo by 22.7% in the fourth quarter. Victory Capital Management Inc. now owns 19,318 shares of the company’s stock worth $76,000 after acquiring an additional 3,571 shares in the last quarter. 84.97% of the stock is owned by hedge funds and other institutional investors.

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.