Via Transportation (NYSE:VIA) Trading Up 6.1% – Still a Buy?

Via Transportation Inc. (NYSE:VIA)’s share price was up 6.1% during mid-day trading on Wednesday . The stock traded as high as $33.19 and last traded at $32.0170. Approximately 679,299 shares traded hands during mid-day trading, an increase of 110% from the average daily volume of 323,863 shares. The stock had previously closed at $30.18.

Wall Street Analysts Forecast Growth

VIA has been the topic of a number of recent analyst reports. Oppenheimer set a $59.00 price target on shares of Via Transportation and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Noble Financial lowered shares of Via Transportation to a “buy” rating in a report on Tuesday. Raymond James Financial set a $55.00 price target on Via Transportation and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Zacks Research upgraded Via Transportation to a “hold” rating in a research report on Wednesday, October 8th. Finally, Guggenheim started coverage on Via Transportation in a report on Tuesday, October 7th. They issued a “buy” rating and a $58.00 target price for the company. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Via Transportation has an average rating of “Moderate Buy” and an average price target of $56.64.

Via Transportation Price Performance

The firm has a fifty day simple moving average of $41.71.

Via Transportation (NYSE:VIA) last released its quarterly earnings results on Friday, November 14th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.04). The business had revenue of $109.65 million during the quarter, compared to analyst estimates of $106.42 million.

Institutional Investors Weigh In On Via Transportation

A number of institutional investors have recently added to or reduced their stakes in the company. Blair William & Co. IL purchased a new stake in shares of Via Transportation during the 3rd quarter valued at $764,000. Neo Ivy Capital Management bought a new stake in Via Transportation during the 3rd quarter valued at $1,379,000. Orland Properties Ltd purchased a new stake in Via Transportation during the 3rd quarter worth about $731,000. PNC Financial Services Group Inc. bought a new position in Via Transportation in the 3rd quarter worth about $60,000. Finally, Monashee Investment Management LLC purchased a new position in Via Transportation during the third quarter valued at approximately $3,366,000. 74.40% of the stock is owned by institutional investors.

About Via Transportation

Via transforms antiquated and siloed public transportation systems into smart, data-driven, and efficient digital networks. We are addressing a striking gap in the $545 billion global public transportation market. While billions of people across the globe rely on public transportation, this critical form of mobility has yet to meaningfully benefit from recent advances in technology. Buses still follow fixed routes and schedules planned years, if not decades ago, regardless of actual demand for their service.