Vimeo Analysts Increase Their Forecasts After Strong Earnings

Vimeo, Inc. VMEO reported better-than-expected third-quarter financial results and issued fourth-quarter sales guidance above estimates.

Vimeo reported quarterly earnings of 5 cents per share which beat the analyst consensus estimate of 1 cent per share. The company reported quarterly sales of $104.564 million which beat the analyst consensus estimate of $99.605 million.

Vimeo said it sees fourth-quarter sales of $100.000 million, versus market estimates of $97.14 million.

Vimeo shares gained 44.7% to trade at $6.96 on Tuesday.

These analysts made changes to their price targets on Vimeo following earnings announcement.

• Truist Securities analyst Youssef Squali maintained Vimeo with a Buy and raised the price target from $7 to $9.
• Piper Sandler analyst Thomas Champion reiterated Vimeo with a Neutral and raised the price target from $5 to $7.
• TD Cowen analyst John Blackledge maintained the stock with a Hold and raised the price target from $6 to $7.

Considering buying VMEO stock? Here’s what analysts think:

Read This Next:

• This eBay Analyst Turns Bullish; Here Are Top 5 Upgrades For Tuesday