UPDATE: BMO Capital Starts Vimeo (VMEO) at Market Perform

BMO Capital analyst Daniel Salmon initiates coverage on Vimeo (NASDAQ: VMEO) with a Market Perform rating and a price target of $50.00.

The analyst comments "We believe a change in trajectory on sub growth would be the most meaningful catalyst and most likely to change our view. Typically, accelerating unit growth drives upward estimate revisions and multiple expansion, and we see no reason why that wouldn’t be the case for VMEO. Shares face difficult comps near term, and we think a more cautious stance to begin is warranted, but the recent sell off bakes this in better,and we think Vimeo faces favorable secular trends as the need for video becomes more important for businesses."

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 $44.84 yesterday.

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