UPDATE: Cowen Downgrades Vimeo (VMEO) to Market Perform

November 5, 2021 4:21 AM EDT
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Price: $13.83 -5.01%

Rating Summary:
    4 Buy, 3 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 25 | Down: 19 | New: 35
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(Updated - November 5, 2021 5:42 AM EDT)

Cowen analyst John Blackledge downgraded Vimeo (NASDAQ: VMEO) from Outperform to Market Perform with a price target of $30.00 (from $50.00).

The analyst comments "Vimeo reported in line 3Q rev growth of +33% y/y, while gross margin was ahead onscale efficiencies & infra optimization. However, mgmt called for more muted growththan expected for both 4Q21 & FY22 given difficult comps and headwinds related to OTTand pricing changes. We lowered est's given the lower topline trajectory & downgrade toMarket Perform; PT to $30 vs $50 prior. Shares (30%)."

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 $24.49 yesterday.

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