Vimeo, Inc. (NASDAQ:VMEO) Sees Significant Increase in Short Interest

Vimeo, Inc. (NASDAQ:VMEO) was the target of a significant 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. Currently, 2.6% of the company’s stock are sold short. Based on an average daily volume of 1,360,000 shares, the short-interest ratio is currently 2.7 days.

Vimeo Trading Down 4.2 %

Shares of NASDAQ:VMEO opened at $6.84 on Friday. Vimeo has a 12-month low of $3.43 and a 12-month high of $7.90. The business has a 50 day moving average of $5.97 and a two-hundred day moving average of $4.93. The company has a market capitalization of $1.13 billion, a PE ratio of 34.20 and a beta of 2.23.

Vimeo (NASDAQ:VMEO) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. Vimeo had a return on equity of 8.56% and a net margin of 8.08%. The firm 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 business earned $0.05 EPS. Vimeo’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts predict that Vimeo will post 0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Vimeo

Several large investors have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in shares of Vimeo in the third quarter worth approximately $51,000. Hutchens & Kramer Investment Management Group LLC acquired a new stake in Vimeo during the 3rd quarter worth $54,000. DekaBank Deutsche Girozentrale acquired a new stake in Vimeo during the 2nd quarter worth $42,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Vimeo during the second quarter worth $41,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Vimeo by 42.4% in the second quarter. Nisa Investment Advisors LLC now owns 17,318 shares of the company’s stock valued at $65,000 after buying an additional 5,160 shares during the last quarter. 84.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on VMEO. Piper Sandler upgraded Vimeo from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $7.00 to $10.00 in a research note on Tuesday, December 10th. TD Cowen lifted their target price 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, Truist Financial upped their price target on shares of Vimeo from $7.00 to $9.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th.

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.