Vimeo (NASDAQ:VMEO) Shares Gap Down – Here’s What Happened

Vimeo, Inc. (NASDAQ:VMEO) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.78, but opened at $5.58. Vimeo shares last traded at $5.36, with a volume of 3,262,050 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently commented on VMEO shares. Truist Financial lifted their price objective on Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Cowen boosted their price target on shares of Vimeo from $6.00 to $7.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Finally, Piper Sandler raised shares of Vimeo from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $7.00 to $10.00 in a research note on Tuesday, December 10th.

Vimeo Trading Down 22.1 %

The business has a 50 day moving average price of $6.59 and a 200 day moving average price of $5.87. The company has a market capitalization of $876.52 million, a P/E ratio of 26.42 and a beta of 2.21.

Vimeo (NASDAQ:VMEO) last posted its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Vimeo had a net margin of 8.08% and a return on equity of 8.56%. The company had revenue of $103.16 million for the quarter, compared to analyst estimates of $100.60 million. On average, analysts forecast that Vimeo, Inc. will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Vimeo

Institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC raised its holdings in Vimeo by 780.4% during the 4th quarter. Sterling Capital Management LLC now owns 4,578 shares of the company’s stock worth $29,000 after buying an additional 4,058 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Vimeo in the fourth quarter valued at about $30,000. Allworth Financial LP boosted its position in shares of Vimeo by 5,662.8% during the fourth quarter. Allworth Financial LP now owns 4,956 shares of the company’s stock worth $31,000 after buying an additional 4,870 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Vimeo during the fourth quarter worth about $36,000. Finally, Point72 Asia Singapore Pte. Ltd. raised its position in Vimeo by 919.9% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 7,231 shares of the company’s stock valued at $46,000 after buying an additional 6,522 shares during the last quarter. Institutional investors own 84.97% of the company’s stock.

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.