Via Transportation (NYSE:VIA) Shares Up 11.1% – Still a Buy?

Via Transportation Inc. (NYSE:VIA)’s stock price shot up 11.1% during trading on Monday . The stock traded as high as $16.82 and last traded at $16.9150. 432,971 shares were traded during mid-day trading, a decline of 37% from the average session volume of 690,299 shares. The stock had previously closed at $15.23.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VIA. The Goldman Sachs Group reaffirmed a “buy” rating and set a $24.00 price objective on shares of Via Transportation in a report on Wednesday, May 13th. Morgan Stanley reaffirmed an “overweight” rating and set a $24.00 price objective on shares of Via Transportation in a report on Tuesday, May 12th. Weiss Ratings raised Via Transportation from a “sell (e+)” rating to a “sell (d)” rating in a report on Wednesday, May 13th. Oppenheimer reaffirmed an “outperform” rating and set a $25.00 price objective on shares of Via Transportation in a report on Monday. Finally, Raymond James Financial set a $19.00 price objective on Via Transportation in a report on Tuesday, May 12th. Twelve investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.10.

Via Transportation Price Performance

The stock has a market cap of $1.35 billion and a price-to-earnings ratio of -17.90. The stock’s 50-day moving average is $15.39 and its 200 day moving average is $22.54.

Via Transportation (NYSE:VIA) last announced its quarterly earnings data on Friday, February 27th. The company reported $999.00 EPS for the quarter. Analysts anticipate that Via Transportation Inc. will post -0.77 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VIA. Federated Hermes Inc. purchased a new position in Via Transportation in the third quarter valued at about $9,616,000. Principal Financial Group Inc. purchased a new position in shares of Via Transportation during the 3rd quarter worth approximately $14,394,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Via Transportation during the 3rd quarter worth approximately $240,000. Assetmark Inc. purchased a new position in shares of Via Transportation during the 3rd quarter worth approximately $36,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of Via Transportation during the 3rd quarter worth approximately $716,000. 74.40% of the stock is owned by hedge funds and other institutional investors.

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.