Via Transportation Inc. (NYSE:VIA) Stock Has Consensus Price Target of $38.70

Shares of Via Transportation Inc. (NYSE:VIA) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $38.70.

VIA has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on Via Transportation from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Citigroup reissued a “market outperform” rating on shares of Via Transportation in a report on Monday, September 14th. Weiss Ratings upgraded Via Transportation from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, September 4th. Morgan Stanley lifted their target price on shares of Via Transportation from $24.00 to $33.00 and gave the company an “overweight” rating in a report on Monday, September 21st. Finally, Guggenheim reiterated a “buy” rating and issued a $50.00 target price on shares of Via Transportation in a research note on Wednesday, June 17th.

Via Transportation Price Performance

Via Transportation stock opened at $29.00 on Tuesday. The stock has a market cap of $2.36 billion and a price-to-earnings ratio of -25.44. The firm has a 50-day moving average of $25.12 and a two-hundred day moving average of $19.18. Via Transportation has a 1 year low of $12.95 and a 1 year high of $55.20.

Via Transportation (NYSE:VIA) last issued its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.19. Via Transportation had a negative net margin of 20.04% and a negative return on equity of 12.33%. The company had revenue of $135.71 million for the quarter. Research analysts expect that Via Transportation will post -0.8 earnings per share for the current year.

Insider Activity

In other news, Director Nechemia Peres bought 10,080 shares of Via Transportation stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $24.74 per share, with a total value of $249,379.20. Following the completion of the purchase, the director directly owned 40,514 shares of the company’s stock, valued at approximately $1,002,316.36. This trade represents a 33.12% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 39.28% of the company’s stock.

Institutional Investors Weigh In On Via Transportation

Several large investors have recently added to or reduced their stakes in the business. Weiss Asset Management LP purchased a new stake in shares of Via Transportation in the 1st quarter valued at about $2,433,000. Bank of New York Mellon Corp purchased a new position in Via Transportation during the 2nd quarter worth $2,437,000. Compound Planning Inc. acquired a new stake in Via Transportation in the first quarter valued at about $1,312,000. Principal Financial Group Inc. lifted its holdings in shares of Via Transportation by 39.6% in the 1st quarter. Principal Financial Group Inc. now owns 1,086,438 shares of the company’s stock valued at $16,297,000 after buying an additional 308,283 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Via Transportation by 222.4% during the 1st quarter. Renaissance Technologies LLC now owns 329,500 shares of the company’s stock worth $4,942,000 after purchasing an additional 227,300 shares during the period. 74.40% of the stock is owned by hedge funds and other institutional investors.

Via Transportation Company Profile

Via Transportation is a transportation technology company that develops software and operates services for on-demand public transportation. Its platform enables transit agencies, municipalities, universities, corporations and other organizations to plan, manage and optimize flexible transportation networks.

The company’s products and services support microtransit, paratransit, school transportation, corporate shuttles and other shared mobility programs. Via’s technology can help match riders with vehicles, optimize routes, manage bookings and payments, and provide tools for dispatching, reporting and fleet operations.

Founded in 2012 by Daniel Ramot and Oren Shoval, Via serves transportation partners in multiple countries and works with public agencies and private organizations to complement fixed-route transit.