Vimeo (NASDAQ:VMEO) Shares Gap Up on Strong Earnings

Shares of Vimeo, Inc. (NASDAQ:VMEO) gapped up before the market opened on Tuesday following a better than expected earnings announcement. 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 changing hands.

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

Analysts Set New Price Targets

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

Institutional Trading of Vimeo

Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Vimeo by 75.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,493,555 shares of the company’s stock worth $21,535,000 after purchasing an additional 2,360,405 shares during the period. Circumference Group LLC bought a new stake in shares of Vimeo during the 4th quarter valued at $2,267,000. Vanguard Group Inc. increased its stake in shares of Vimeo by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 15,259,338 shares of the company’s stock worth $54,018,000 after acquiring an additional 483,443 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Vimeo in the 3rd quarter worth about $1,657,000. Finally, Los Angeles Capital Management LLC lifted its position in Vimeo by 142.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 664,114 shares of the company’s stock valued at $2,603,000 after acquiring an additional 390,574 shares during the period. 84.97% of the stock is owned by institutional investors.

Vimeo Price Performance

The firm has a market cap of $662.08 million, a P/E ratio of 30.31 and a beta of 2.02. The firm’s 50 day moving average is $4.25 and its 200 day moving average is $3.92.

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.