Vimeo price target raised to $9 from $7 at Truist

Truist raised the firm’s price target on Vimeo (VMEO) to $9 from $7 and keeps a Buy rating on the shares. The company’s Q3 results and Q4 guide came in better than the muted expectations, marking sustained growth in Enterprise with improving profitability and free cash flow even as its Self-Serve business remains under pressure, the analyst tells investors in a research note. Vimeo management is also guiding for positive growth in both revenue and bookings in FY25, fueled by Enterprise, an amelioration in the rate of decline in Self-Serve, and stabilization of the OTT segment, the firm added.