Via Transportation, Inc. Class A, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Scott Berg from Needham maintained a Buy rating on the stock and has a $55.00 price target.
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Scott Berg has given his Buy rating due to a combination of factors that highlight Via Transportation, Inc.’s promising outlook. The company demonstrated strong performance in its first quarter after going public, with a notable increase in new customer acquisitions, marking the largest quarterly growth since at least 2023. This growth was significantly driven by the success of their new school bus solution, which experienced a remarkable 300% year-over-year increase in customer numbers.
Additionally, Via’s strategic partnership with Waymo is seen as a competitive edge. This collaboration not only enhances Via’s service offerings but also aligns with the evolving financial model for autonomous vehicles, potentially increasing gross profit margins through expanded software utilization. Furthermore, Via’s initial guidance for fiscal year 2025 suggests a robust 30% growth in platform revenue, which, while surpassing consensus expectations, indicates a strong growth trajectory for the company.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VIA in relation to earlier this year.