Vimeo (NASDAQ:VMEO) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Vimeo (NASDAQ:VMEO) released its quarterly earnings data on Monday. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05, Briefing.com reports. The firm had revenue of $104.91 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. Vimeo updated its Q2 2024 guidance to EPS and its FY 2024 guidance to EPS.

Vimeo Trading Up 0.8 %

Shares of NASDAQ:VMEO traded up $0.03 during mid-day trading on Wednesday, hitting $3.95. 225,925 shares of the company traded hands, compared to its average volume of 2,767,031. The stock has a market cap of $663.76 million, a P/E ratio of 30.16 and a beta of 2.02. Vimeo has a 12-month low of $3.02 and a 12-month high of $5.77. The stock has a 50-day moving average price of $4.26 and a two-hundred day moving average price of $3.92.

Analysts Set New Price Targets

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

Vimeo Company Profile

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.