5 Penny Stocks that Captured the Attention of Billionaires

4. Vimeo Inc (NASDAQ:VMEO)

Number of Billionaire Investors: 10

Video platform company Vimeo Inc (NASDAQ:VMEO) has been gaining billionaires’ attention this year, and for the right reasons. During the third quarter Vimeo Inc’s (NASDAQ:VMEO) revenue came in at $106.3 million. While it was a decline as compared to last year, it beat analyst estimate of $101.2 million.

“Bookings grew for the first time in 2023, and our revenue growth improved from down 8% in Q2 to down 2%. Importantly, we improved our year-over-year bookings and revenue trajectory in our biggest product area, Self-Serve & Add-Ons, something we know we must do at a sustained level to regain total bookings and revenue growth over time,” Vimeo said in a shareholder letter.

Jefferies praised Vimeo Inc’s (NASDAQ:VMEO) execution and set a Buy rating on the stock.

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.”