Via Transportation (NYSE:VIA) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

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

Via Transportation Price Performance

Shares of NYSE VIA traded up $0.51 during mid-day trading on Friday, reaching $43.65. The company had a trading volume of 339,036 shares, compared to its average volume of 161,315. Via Transportation has a 12-month low of $41.25 and a 12-month high of $56.31.

Institutional Investors Weigh In On Via Transportation

Institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd acquired a new stake in Via Transportation in the 3rd quarter worth approximately $219,000. Legal & General Group Plc acquired a new stake in shares of Via Transportation in the third quarter worth $239,000. Man Group plc bought a new stake in shares of Via Transportation during the 3rd quarter worth $241,000. Davidson Kempner Capital Management LP acquired a new position in Via Transportation in the 3rd quarter valued at $481,000. Finally, Squarepoint Ops LLC bought a new position in Via Transportation in the 3rd quarter worth $721,000. Institutional investors and hedge funds own 74.40% of the company’s stock.

Analyst Ratings Changes

VIA has been the subject of several research reports. JMP Securities initiated coverage on shares of Via Transportation in a research note on Tuesday, October 7th. They set a “market outperform” rating and a $59.00 target price for the company. Wolfe Research assumed coverage on Via Transportation in a report on Tuesday, October 7th. They issued an “outperform” rating and a $60.00 target price on the stock. Raymond James Financial set a $55.00 target price on Via Transportation and gave the company an “outperform” rating in a report on Tuesday, October 7th. The Goldman Sachs Group initiated coverage on Via Transportation in a research note on Tuesday, October 7th. They issued a “neutral” rating and a $50.00 price target on the stock. Finally, Wall Street Zen raised shares of Via Transportation to a “hold” rating in a research note on Wednesday, September 24th. Ten analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.64.

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.