Waystar (NASDAQ:WAY) Price Target Raised to $42.00

Waystar (NASDAQ:WAY) had its price objective upped by equities research analysts at Canaccord Genuity Group from $36.00 to $42.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 14.10% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group upped their price target on Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI boosted their price target on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Friday, November 22nd. Finally, Bank of America lifted their price objective on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and a consensus price target of $33.50.

Waystar Trading Up 2.4 %

Shares of Waystar stock traded up $0.86 during trading on Friday, reaching $36.81. The company’s stock had a trading volume of 320,867 shares, compared to its average volume of 721,297. The stock has a fifty day moving average price of $32.27. Waystar has a one year low of $20.26 and a one year high of $38.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.03. The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $223.82 million. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. Equities research analysts forecast that Waystar will post 0.03 earnings per share for the current year.

Insider Transactions at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total transaction of $564,810.74. Following the transaction, the chief financial officer now owns 173,642 shares of the company’s stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WAY. Cerity Partners LLC boosted its stake in Waystar by 1.5% in the 3rd quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after purchasing an additional 699 shares during the period. Amalgamated Bank acquired a new stake in Waystar in the 3rd quarter worth about $41,000. Smithfield Trust Co acquired a new stake in shares of Waystar in the third quarter valued at approximately $68,000. RiverPark Advisors LLC bought a new stake in shares of Waystar during the 3rd quarter valued at $78,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Waystar during the second quarter worth about $145,000.

About Waystar

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.