Short Interest in Vimeo, Inc. (NASDAQ:VMEO) Expands By 21.5%

Vimeo, Inc. (NASDAQ:VMEO) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 3,670,000 shares, an increase of 21.5% from the November 15th total of 3,020,000 shares. Based on an average trading volume of 1,360,000 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on VMEO. Truist Financial raised their price target on shares of Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Piper Sandler raised Vimeo from a “neutral” rating to an “overweight” rating and upped their target price for the company from $7.00 to $10.00 in a report on Tuesday. Finally, TD Cowen boosted their price objective on Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th.

Institutional Trading of Vimeo

A number of hedge funds and other institutional investors have recently made changes to their positions in VMEO. Franklin Resources Inc. raised its stake in shares of Vimeo by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 145,603 shares of the company’s stock worth $702,000 after buying an additional 4,134 shares in the last quarter. Barclays PLC lifted its holdings in Vimeo by 203.9% in the 3rd quarter. Barclays PLC now owns 240,655 shares of the company’s stock valued at $1,215,000 after acquiring an additional 161,469 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Vimeo by 5.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,770,805 shares of the company’s stock valued at $19,046,000 after acquiring an additional 181,137 shares during the last quarter. EP Wealth Advisors LLC bought a new position in shares of Vimeo during the 3rd quarter valued at about $51,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Vimeo in the 3rd quarter worth approximately $141,000. 84.97% of the stock is currently owned by institutional investors.

Vimeo Stock Performance

Shares of NASDAQ:VMEO traded down $0.30 during trading hours on Friday, hitting $6.84. The stock had a trading volume of 1,366,719 shares, compared to its average volume of 1,923,197. The stock’s fifty day simple moving average is $5.97 and its 200 day simple moving average is $4.93. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 34.20 and a beta of 2.23. Vimeo has a 1-year low of $3.43 and a 1-year high of $7.90.

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

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.