Needham analyst Scott Berg maintained a Buy rating on Via Transportation, Inc. Class A today and set a price target of $55.00.
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Scott Berg’s rating is based on Via Transportation, Inc.’s strategic acquisition of Downtowner, which enhances Via’s platform with capabilities tailored for cities experiencing seasonal demand and weather-related disruptions. This acquisition is particularly beneficial as it expands Via’s reach into ski resort communities, offering a balanced mix of public and private sector clients. Although the financial terms were not disclosed, the acquisition is expected to have minimal impact on revenue in the fourth quarter due to its timing. However, it positions Via for future growth as the company plans to continue leveraging its existing customer base and pursue further strategic acquisitions.
In another report released yesterday, Guggenheim also maintained a Buy rating on the stock with a $58.00 price target.