Wells Fargo & Company Has Lowered Expectations for Via Transportation (NYSE:VIA) Stock Price

Via Transportation (NYSE:VIA) had its price objective reduced by equities research analysts at Wells Fargo & Company from $36.00 to $30.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 109.50% from the company’s current price.

Several other analysts also recently issued reports on the company. Oppenheimer decreased their target price on Via Transportation from $59.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, January 22nd. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Via Transportation in a report on Monday, March 2nd. Morgan Stanley reissued an “overweight” rating and set a $24.00 price target on shares of Via Transportation in a research note on Tuesday. Raymond James Financial set a $19.00 price target on Via Transportation in a research report on Tuesday. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $24.00 price objective on shares of Via Transportation in a report on Wednesday. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Via Transportation currently has an average rating of “Moderate Buy” and a consensus target price of $41.60.

Via Transportation Price Performance

Via Transportation stock traded up $0.20 during midday trading on Wednesday, reaching $14.32. 116,951 shares of the company traded hands, compared to its average volume of 683,669. Via Transportation has a 12 month low of $13.11 and a 12 month high of $56.31. The business has a 50 day moving average of $16.17 and a two-hundred day moving average of $25.94. The firm has a market capitalization of $1.16 billion and a price-to-earnings ratio of -20.74.

Via Transportation (NYSE:VIA) last released its quarterly earnings results on Friday, February 27th. The company reported $999.00 earnings per share (EPS) for the quarter. As a group, equities analysts forecast that Via Transportation will post -0.77 EPS for the current year.

Institutional Trading of Via Transportation

Large investors have recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC purchased a new stake in Via Transportation in the third quarter valued at approximately $4,787,000. Federated Hermes Inc. acquired a new stake in Via Transportation during the 3rd quarter worth about $9,616,000. Principal Financial Group Inc. purchased a new position in shares of Via Transportation during the 3rd quarter valued at about $14,394,000. Compagnie Lombard Odier SCmA acquired a new position in shares of Via Transportation in the 3rd quarter valued at about $240,000. Finally, Assetmark Inc. purchased a new stake in shares of Via Transportation in the third quarter worth about $36,000. Hedge funds and other institutional investors own 74.40% of the company’s stock.

Via Transportation Company Profile

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.