Vimeo (NASDAQ:VMEO) Shares Gap Up – Still a Buy?

Vimeo, Inc. (NASDAQ:VMEO) shares 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.

Analysts Set New Price Targets

VMEO has been the subject of several research reports. Truist Financial lifted 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. Piper Sandler upgraded shares of Vimeo from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $7.00 to $10.00 in a report on Tuesday, December 10th. Finally, TD Cowen increased their target price on shares of Vimeo from $6.00 to $7.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th.

Vimeo Stock Performance

The business has a 50-day simple moving average of $6.50 and a 200-day simple moving average of $5.91. The company has a market cap of $934.56 million, a price-to-earnings ratio of 35.10 and a beta of 2.21.

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

Institutional Investors Weigh In On Vimeo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC increased its position in shares of Vimeo by 82.5% during the fourth quarter. Nuveen Asset Management LLC now owns 2,707,697 shares of the company’s stock worth $17,329,000 after purchasing an additional 1,224,263 shares in the last quarter. G2 Investment Partners Management LLC purchased a new position in shares of Vimeo during the fourth quarter worth approximately $7,275,000. Boston Partners raised its position in Vimeo by 465.5% in the 4th quarter. Boston Partners now owns 1,194,421 shares of the company’s stock valued at $7,643,000 after purchasing an additional 983,198 shares during the last quarter. Norges Bank acquired a new stake in Vimeo during the 4th quarter worth $3,640,000. Finally, FMR LLC boosted its stake in shares of Vimeo by 65.1% during the third quarter. FMR LLC now owns 1,392,457 shares of the company’s stock worth $7,032,000 after buying an additional 548,812 shares during the period. 84.97% of the stock is currently owned by institutional investors and hedge funds.

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.