Via Transportation, Inc. (VIA) shares plummeted 5.91% during intraday trading on Wednesday, as the stock faced significant selling pressure.

The sharp decline appears to be driven by a series of analyst price target cuts from major financial institutions. Deutsche Bank lowered its price target on Via Transportation to $25 from $30, while maintaining a Buy rating on the shares. Similarly, Goldman Sachs reduced its target to $24 from $28, also keeping a Buy rating. Wells Fargo also cut its target price to $30 from $36, though it maintained an Overweight rating on the stock.

These coordinated downward revisions in price targets from multiple prominent analysts likely contributed to negative investor sentiment and the stock's substantial intraday drop, despite the maintained positive ratings from the firms.