Vimeo (NASDAQ:VMEO) Shares Gap Up After Better-Than-Expected Earnings

Vimeo, Inc. (NASDAQ:VMEO)’s share price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $3.80, but opened at $4.00. Vimeo shares last traded at $3.91, with a volume of 569,212 shares traded.

The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. The firm had revenue of $104.91 million during the quarter, compared to analysts’ expectations of $100.40 million. Vimeo had a return on equity of 6.07% and a net margin of 5.28%. Vimeo’s quarterly revenue was up 1.3% compared to the same quarter last year.

Analysts Set New Price Targets

Separately, Piper Sandler restated a “neutral” rating and issued a $4.50 target price (up from $4.00) on shares of Vimeo in a research report on Tuesday.

Institutional Trading of Vimeo

Several large investors have recently bought and sold shares of VMEO. SG Americas Securities LLC bought a new position in shares of Vimeo in the third quarter worth about $216,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Vimeo by 20.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,664 shares of the company’s stock valued at $101,000 after buying an additional 4,963 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Vimeo by 121.1% during the third quarter. Mackenzie Financial Corp now owns 65,223 shares of the company’s stock worth $225,000 after buying an additional 35,727 shares during the last quarter. Strs Ohio increased its holdings in shares of Vimeo by 59.4% during the third quarter. Strs Ohio now owns 157,600 shares of the company’s stock worth $557,000 after buying an additional 58,700 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in shares of Vimeo by 1,377.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 173,144 shares of the company’s stock valued at $613,000 after acquiring an additional 161,426 shares during the last quarter. 84.97% of the stock is owned by institutional investors and hedge funds.

Vimeo Stock Performance

The business has a 50-day moving average of $4.25 and a two-hundred day moving average of $3.92. The firm has a market cap of $662.08 million, a P/E ratio of 30.31 and a beta of 2.02.

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.