Waystar Holding Corp. (NASDAQ:WAY) Receives Consensus Recommendation of “Buy” from Brokerages

Waystar Holding Corp. (NASDAQ:WAY) has earned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the company, MarketBeat reports. Eleven equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $29.90.

Several equities research analysts have recently weighed in on the company. Barclays began coverage on Waystar in a report on Tuesday, July 2nd. They issued an “overweight” rating and a $24.00 price target on the stock. Bank of America lifted their target price on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday. Royal Bank of Canada upped their price target on shares of Waystar from $27.00 to $31.00 and gave the stock an “outperform” rating in a report on Friday, September 6th. JPMorgan Chase & Co. lifted their price objective on shares of Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Finally, William Blair started coverage on shares of Waystar in a research report on Tuesday, July 2nd. They issued an “outperform” rating for the company.

Hedge Funds Weigh In On Waystar

A number of large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Waystar in the 3rd quarter valued at $717,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Waystar during the second quarter valued at about $27,950,000. Cubist Systematic Strategies LLC purchased a new position in Waystar in the second quarter valued at about $145,000. Ghisallo Capital Management LLC bought a new position in Waystar in the second quarter worth about $12,900,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Waystar during the second quarter valued at about $813,000.

Waystar Stock Performance

Shares of WAY opened at $27.75 on Thursday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average of $26.73. Waystar has a 52-week low of $20.26 and a 52-week high of $28.57.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.25 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. Waystar’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, equities research analysts forecast that Waystar will post -0.08 EPS for the current fiscal year.

About Waystar

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