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

Shares of Vimeo, Inc. (NASDAQ:VMEO) 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 trading hands.

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

Analyst Ratings Changes

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

Institutional Trading of Vimeo

Hedge funds have recently bought and sold shares of the company. Covestor Ltd grew its stake in shares of Vimeo by 3,726.9% during the third quarter. Covestor Ltd now owns 9,108 shares of the company’s stock valued at $32,000 after buying an additional 8,870 shares during the last quarter. Perigon Wealth Management LLC bought a new stake in Vimeo in the fourth quarter valued at approximately $47,000. Headlands Technologies LLC grew its holdings in shares of Vimeo by 4,565.2% in the first quarter. Headlands Technologies LLC now owns 11,943 shares of the company’s stock worth $49,000 after purchasing an additional 11,687 shares during the last quarter. Qtron Investments LLC purchased a new position in shares of Vimeo in the fourth quarter worth $50,000. Finally, Victory Capital Management Inc. raised its holdings in Vimeo by 22.7% during the 4th quarter. Victory Capital Management Inc. now owns 19,318 shares of the company’s stock valued at $76,000 after buying an additional 3,571 shares during the last quarter. Institutional investors own 84.97% of the company’s stock.

Vimeo Stock Performance

The firm has a market cap of $662.08 million, a PE ratio of 30.31 and a beta of 2.02. The company’s 50-day simple moving average is $4.25 and its two-hundred day simple 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.