Via Transportation Inc. (NYSE:VIA) Stock Has Consensus Target Price of $34.75 According to Brokerages

Via Transportation Inc. (NYSE:VIA) has earned an average rating of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $34.75.

VIA has been the topic of a number of analyst reports. Wells Fargo & Company raised their price objective on shares of Via Transportation from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Oppenheimer boosted their target price on shares of Via Transportation from $25.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of Via Transportation in a research note on Monday, September 14th. Morgan Stanley upped 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, Weiss Ratings downgraded Via Transportation from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday.

Via Transportation Stock Down 4.8%

NYSE:VIA traded down $1.63 on Friday, reaching $31.95. 695,568 shares of the company’s stock were exchanged, compared to its average volume of 913,313. The firm has a market capitalization of $2.60 billion and a price-to-earnings ratio of -28.03. Via Transportation has a 52-week low of $12.95 and a 52-week high of $55.20. The business has a fifty day moving average of $28.24 and a 200-day moving average of $20.73.

Via Transportation (NYSE:VIA) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.19. Via Transportation had a negative return on equity of 12.33% and a negative net margin of 20.04%. The company had revenue of $135.71 million for the quarter. As a group, equities analysts anticipate that Via Transportation will post -0.81 earnings per share for the current year.

Insiders Place Their Bets

In other Via Transportation news, Director Nechemia Peres purchased 10,080 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $24.74 per share, for a total transaction of $249,379.20. Following the purchase, the director directly owned 40,514 shares in the company, valued at approximately $1,002,316.36. This trade represents a 33.12% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 39.28% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Via Transportation

A number of institutional investors and hedge funds have recently made changes to their positions in VIA. Principal Financial Group Inc. grew its holdings in shares of Via Transportation by 39.6% during the first quarter. Principal Financial Group Inc. now owns 1,086,438 shares of the company’s stock worth $16,297,000 after buying an additional 308,283 shares during the last quarter. Janus Henderson Group PLC raised its stake in Via Transportation by 41.9% during the 1st quarter. Janus Henderson Group PLC now owns 854,589 shares of the company’s stock valued at $12,819,000 after acquiring an additional 252,381 shares during the last quarter. Renaissance Technologies LLC raised its stake in Via Transportation by 222.4% during the 1st quarter. Renaissance Technologies LLC now owns 329,500 shares of the company’s stock valued at $4,942,000 after acquiring an additional 227,300 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Via Transportation during the 1st quarter worth approximately $2,433,000. Finally, Bank of New York Mellon Corp acquired a new stake in Via Transportation during the 2nd quarter worth approximately $2,437,000. 74.40% of the stock is owned by hedge funds and other institutional investors.

About Via Transportation

Via Transportation, Inc is a transportation technology company that provides software and operational services for on-demand and shared public transit. Its platform helps transit agencies, municipalities, schools, universities and private organizations plan, book, route and manage flexible transportation services.

Via’s products support services such as microtransit, paratransit, demand-responsive bus networks, school transportation and transportation-as-a-service programs. The company’s technology is designed to match riders with vehicles, optimize routes and improve the efficiency and accessibility of local transportation systems.