5 Best Penny Stocks To Buy For 2024

3. Vimeo, Inc (NASDAQ:VMEO)

Number of Hedge Fund Investors: 31

Video platform company Vimeo, Inc (NASDAQ:VMEO) shares recently surged after the Vimeo, Inc’s (NASDAQ:VMEO) Q3 results impressed the Street. Vimeo, Inc’s (NASDAQ:VMEO) revenue came in at $106.3 million, surpassing estimates of $101.2 million.

Jefferies reiterated a Buy rating on the stock after the results.

Longleaf Partners Small-Cap Fund made the following comment about Vimeo, Inc. (NASDAQ:VMEO) in its Q2 2023 investor letter:

“We exited Vimeo, Inc. (NASDAQ:VMEO) and long-term position Lumen in the quarter, both of which were disappointing investments that resulted in a permanent capital loss in the portfolio. At Vimeo we initially misjudged how much of a COVID beneficiary the business had been, and our sum of the parts valuation proved to be too generous for some of the underlying assets that were less differentiated than we originally believed.”