UPDATE: Jefferies Starts Vimeo (VMEO) at Buy

Jefferies analyst Brent Thill initiates coverage on Vimeo (NASDAQ: VMEO) with a Buy rating and a price target of $50.00.

The analyst comments "VMEO is a high-growth SaaS platform for professional video creation, management and hosting. A $70B TAM, and just 1% paid penetration of its free user base underpins our 30%+ rev CAGR 2020-2025. From live event streaming to workforce training, business adoption of video is gaining momentum, and we believe Vimeo's best-in-class platform can become the leading one-stop-shop enterprise solution. Our $50 PT implies 16.5x our '22 rev estimate."

For an analyst ratings summary and ratings history on Vimeo click here. For more ratings news on Vimeo click here.

Shares of Vimeo closed at $42.84 yesterday.

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