Piper Sandler Reiterates "Overweight" Rating for Vimeo (NASDAQ:VMEO)

Key Points

• Vimeo's price target has been lowered from $8.00 to $7.00 by Piper Sandler, although the firm maintains an "overweight" rating on the stock, which suggests a potential upside of 83.25% from its current price.
• Jefferies Financial Group has also reduced its price objective for Vimeo to $5.40 and set a "hold" rating.
• Despite these downgrades, Vimeo reported a surprise earnings per share of $0.04 for its latest quarter, exceeding consensus estimates while revenue increased by 0.3% compared to the same quarter last year.

Vimeo (NASDAQ:VMEO - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities researchers at Piper Sandler in a research report issued on Tuesday, Marketbeat reports. They currently have a $7.00 price objective on the stock, down from their previous price objective of $8.00. Piper Sandler's price target suggests a potential upside of 79.95% from the company's previous close.

Separately, Jefferies Financial Group reduced their price target on Vimeo from $7.00 to $5.40 and set a "hold" rating for the company in a research report on Monday, April 7th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.10.

Vimeo Trading Down 3.7%

NASDAQ VMEO traded down $0.15 on Tuesday, hitting $3.89. 1,374,392 shares of the company were exchanged, compared to its average volume of 1,529,497. Vimeo has a 1-year low of $3.64 and a 1-year high of $7.90. The company has a market cap of $640.84 million, a P/E ratio of 48.63 and a beta of 2.00. The firm has a 50 day moving average of $4.09 and a two-hundred day moving average of $4.96.

Vimeo (NASDAQ:VMEO - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.01) by $0.05. The company had revenue of $104.65 million during the quarter, compared to analysts' expectations of $107.36 million. Vimeo had a return on equity of 3.31% and a net margin of 3.17%. Vimeo's revenue was up .3% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. Research analysts anticipate that Vimeo will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sterling Capital Management LLC grew its position 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. GAMMA Investing LLC grew its position in Vimeo by 1,547.0% in the first quarter. GAMMA Investing LLC now owns 4,908 shares of the company's stock valued at $26,000 after acquiring an additional 4,610 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in Vimeo by 919.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,231 shares of the company's stock valued at $46,000 after acquiring an additional 6,522 shares during the last quarter. Quarry LP bought a new position in Vimeo in the fourth quarter valued at about $47,000. Finally, Focus Partners Wealth acquired a new stake in shares of Vimeo during the first quarter valued at about $54,000. Institutional investors own 84.97% of the company's stock.

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.