William Blair analyst Jonathan Ho has maintained their bullish stance on VIA stock, giving a Buy rating today.
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Jonathan Ho has given his Buy rating due to a combination of factors that highlight Via Transportation’s strong performance and growth potential. The company reported impressive financial results in its first quarter as a publicly traded entity, surpassing expectations across all key metrics. Notably, Via experienced a 42% year-over-year revenue increase in the U.S., contributing to an overall revenue growth of 31.6%, which exceeded market consensus by 340 basis points.
Additionally, Via’s ability to attract new customers was evident as it added 24 new clients, bringing the total to 713 platform customers, marking an 11% growth. The company’s innovative school transport solution also gained traction, contributing to new customer acquisitions. Despite a post-earnings dip in stock price, Ho sees this as an opportunity for investors, given Via’s ongoing execution and potential to capitalize on large market opportunities through technological advancements. The company’s strong gross revenue retention and operating leverage further reinforce the positive outlook.
In another report released today, Oppenheimer also reiterated a Buy rating on the stock with a $59.00 price target.