Wells Fargo & Company Cuts Via Transportation (NYSE:VIA) Price Target to $30.00

Via Transportation (NYSE:VIA) had its price target lowered by Wells Fargo & Company from $36.00 to $30.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $55.00 target price on shares of Via Transportation in a report on Monday, March 2nd. Morgan Stanley restated an “overweight” rating and issued a $24.00 target price on shares of Via Transportation in a report on Tuesday. Guggenheim lowered their target price on shares of Via Transportation from $58.00 to $50.00 and set a “buy” rating for the company in a report on Monday, March 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $24.00 target price on shares of Via Transportation in a report on Wednesday. Finally, Raymond James Financial set a $19.00 target price on shares of Via Transportation in a report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $38.60.

Via Transportation Trading Up 2.6%

Shares of NYSE:VIA opened at $14.75 on Wednesday. The company’s 50 day moving average is $15.91 and its two-hundred day moving average is $25.36. Via Transportation has a 52 week low of $12.95 and a 52 week high of $56.31. The company has a market cap of $1.20 billion and a PE ratio of -21.38.

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

Institutional Investors Weigh In On Via Transportation

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE purchased a new position in shares of Via Transportation during the third quarter worth about $29,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Via Transportation during the fourth quarter worth about $34,000. Assetmark Inc. purchased a new position in shares of Via Transportation during the third quarter worth about $36,000. Strs Ohio purchased a new position in shares of Via Transportation during the fourth quarter worth about $52,000. Finally, PNC Financial Services Group Inc. purchased a new position in shares of Via Transportation during the third quarter worth about $60,000. Institutional investors and hedge funds own 74.40% of the company’s stock.

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.