Vimeo price target lowered to $8 from $10 at Piper Sandler

Piper Sandler analyst Thomas Champion lowered the firm’s price target on Vimeo (VMEO) to $8 from $10 on lower multiple, while keeping an Overweight rating on the shares. The firm notes Q1 revenue and EBITDA were again above expectations. However, Enterprise bookings were weaker vs Self-Serve returning to growth, a change in trend. Macro is impacting Enterprise by pushing some deals, while price increases are now flowing to self-serve, Piper adds.