Via Transportation (NYSE:VIA) Shares Up 4.2% – Still a Buy?

Shares of Via Transportation Inc. (NYSE:VIA) traded up 4.2% on Wednesday . The stock traded as high as $29.14 and last traded at $29.55. 132,388 shares changed hands during trading, a decline of 84% from the average daily volume of 807,569 shares. The stock had previously closed at $28.37.

Analyst Ratings Changes

Several equities research analysts have commented on VIA shares. Citigroup reiterated a “market outperform” rating on shares of Via Transportation in a research note on Monday, September 14th. Guggenheim reiterated a “buy” rating and issued a $50.00 price objective on shares of Via Transportation in a report on Wednesday, June 17th. Morgan Stanley increased their price target on Via Transportation from $24.00 to $33.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company lifted their target price on shares of Via Transportation from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Finally, Oppenheimer lifted their price target on shares of Via Transportation from $25.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 7th. Twelve research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.70.

Via Transportation Stock Up 4.5%

The company’s 50-day moving average price is $24.23 and its 200-day moving average price is $18.88. The firm has a market cap of $2.42 billion and a price-to-earnings ratio of -26.01.

Via Transportation (NYSE:VIA) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping the consensus estimate 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. On average, sell-side analysts predict that Via Transportation Inc. will post -0.8 earnings per share for the current fiscal year.

Insider Activity at Via Transportation

In other news, Director Nechemia Peres bought 10,080 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $24.74 per share, with a total value of $249,379.20. Following the transaction, the director directly owned 40,514 shares in the company, valued at $1,002,316.36. This trade represents a 33.12% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 39.28% of the company’s stock.

Hedge Funds Weigh In On Via Transportation

Several institutional investors have recently added to or reduced their stakes in VIA. Capital Research Global Investors boosted its holdings in Via Transportation by 153.9% during the fourth quarter. Capital Research Global Investors now owns 2,140,200 shares of the company’s stock worth $62,087,000 after buying an additional 1,297,114 shares in the last quarter. Summit Partners Public Asset Management LLC acquired a new stake in shares of Via Transportation during the 4th quarter valued at approximately $14,233,000. Principal Financial Group Inc. boosted its stake in shares of Via Transportation by 39.6% during the 1st quarter. Principal Financial Group Inc. now owns 1,086,438 shares of the company’s stock worth $16,297,000 after acquiring an additional 308,283 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Via Transportation by 41.9% in the 1st quarter. Janus Henderson Group PLC now owns 854,589 shares of the company’s stock worth $12,819,000 after acquiring an additional 252,381 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Via Transportation by 222.4% in the 1st quarter. Renaissance Technologies LLC now owns 329,500 shares of the company’s stock valued at $4,942,000 after purchasing an additional 227,300 shares in the last quarter. Institutional investors and hedge funds own 74.40% of the company’s stock.

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.