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

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

Analyst Ratings Changes

VMEO has been the subject of several recent research reports. TD Cowen lifted their price objective on Vimeo from $6.00 to $7.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Truist Financial raised their target price on Vimeo from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Piper Sandler raised Vimeo from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $7.00 to $10.00 in a research report on Tuesday, December 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWA Asset Management Group LLC purchased a new position in shares of Vimeo in the 3rd quarter valued at approximately $391,000. FMR LLC grew its stake in shares of Vimeo by 65.1% in the 3rd quarter. FMR LLC now owns 1,392,457 shares of the company’s stock valued at $7,032,000 after purchasing an additional 548,812 shares during the last quarter. Divisar Capital Management LLC grew its stake in shares of Vimeo by 10.5% in the 2nd quarter. Divisar Capital Management LLC now owns 8,388,993 shares of the company’s stock valued at $31,291,000 after purchasing an additional 800,000 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Vimeo by 14.8% in the 2nd quarter. Renaissance Technologies LLC now owns 6,292,354 shares of the company’s stock valued at $23,470,000 after purchasing an additional 808,954 shares during the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Vimeo by 134.9% in the 3rd quarter. GSA Capital Partners LLP now owns 162,488 shares of the company’s stock valued at $821,000 after purchasing an additional 93,303 shares during the last quarter. 84.97% of the stock is currently owned by hedge funds and other institutional investors.

Vimeo Price Performance

Shares of NASDAQ VMEO traded up $0.11 during midday trading on Monday, hitting $6.95. 508,070 shares of the company’s stock were exchanged, compared to its average volume of 1,917,263. The company has a market cap of $1.15 billion, a PE ratio of 34.20 and a beta of 2.23. Vimeo has a twelve month low of $3.43 and a twelve month high of $7.90. The firm’s fifty day simple moving average is $5.97 and its 200-day simple moving average is $4.94.

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