Why Vimeo (VMEO) Stock Is Up 12% Today
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Shares of Vimeo (NASDAQ: VMEO) are up 12% in today’s trading session after the company implied that revenues grew 34% in Q3, slightly above consensus of 32% growth.
Revenues grew 32% in September with the video software company’s subscriber numbers gaining 14% and average revenue per user (ARPU) gaining 16%.
Jefferies analyst Brent Thill reiterated a Buy rating and $54.00 price target on Vimeo. The analyst sees a “compelling buy” in the Vimeo stock as shares were trading below the $30.00 handle yesterday.
"The stock has struggled as investors contemplate a faster than expected deceleration in growth with comps that get tougher in 4Q21 and 1Q22. However, we believe VMEO is set for consist growth over the next several years (30% CAGR '20-'25) and believe video is still in its early innings.”
Still, the Vimeo stock price is down 45% YTD.
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