Vimeo (NASDAQ:VMEO) Sets New 52-Week High – What’s Next?

Vimeo, Inc. (NASDAQ:VMEO)’s stock price reached a new 52-week high on Monday . The stock traded as high as $7.22 and last traded at $7.21, with a volume of 778797 shares traded. The stock had previously closed at $6.79.

Analyst Ratings Changes

Several analysts recently issued reports on VMEO shares. Truist Financial upped their price objective on shares of Vimeo from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Piper Sandler reaffirmed a “neutral” rating and issued a $7.00 target price (up from $5.00) on shares of Vimeo in a research note on Tuesday, November 5th. Finally, TD Cowen upped their price objective on shares of Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a report on Tuesday, November 5th.

Vimeo Stock Down 1.6 %

The stock has a 50-day simple moving average of $5.20 and a 200 day simple moving average of $4.47. The company has a market cap of $1.10 billion, a PE ratio of 33.70 and a beta of 2.08.

Vimeo (NASDAQ:VMEO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $104.56 million for the quarter, compared to analyst estimates of $99.48 million. Vimeo had a net margin of 8.08% and a return on equity of 8.56%. Vimeo’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 EPS. As a group, research analysts anticipate that Vimeo, Inc. will post 0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lynrock Lake LP lifted its stake in Vimeo by 124.9% during the 2nd quarter. Lynrock Lake LP now owns 15,731,386 shares of the company’s stock worth $58,678,000 after acquiring an additional 8,735,044 shares in the last quarter. Divisar Capital Management LLC grew its holdings in shares of Vimeo by 10.5% in the second quarter. Divisar Capital Management LLC now owns 8,388,993 shares of the company’s stock valued at $31,291,000 after purchasing an additional 800,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in Vimeo by 14.8% during the 2nd quarter. Renaissance Technologies LLC now owns 6,292,354 shares of the company’s stock worth $23,470,000 after buying an additional 808,954 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Vimeo by 27.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,612,973 shares of the company’s stock worth $17,207,000 after buying an additional 987,923 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Vimeo by 3.8% in the 2nd quarter. Acadian Asset Management LLC now owns 1,880,837 shares of the company’s stock valued at $7,013,000 after buying an additional 68,195 shares during the period. 84.97% of the stock is currently owned by hedge funds and other 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.