Waystar (NASDAQ:WAY) Price Target Raised to $43.00 at Bank of America

Waystar (NASDAQ:WAY) had its target price lifted by research analysts at Bank of America from $36.00 to $43.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 14.94% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group increased their price target on Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 22nd. The Goldman Sachs Group boosted their target price on shares of Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada upped their price target on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Evercore ISI raised their price objective on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Waystar presently has a consensus rating of “Buy” and a consensus price target of $34.60.

Waystar Stock Performance

WAY stock traded up $0.43 during trading hours on Monday, hitting $37.41. The company’s stock had a trading volume of 544,272 shares, compared to its average volume of 861,966. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. Waystar has a 12 month low of $20.26 and a 12 month high of $38.35. The stock has a 50 day moving average of $32.46.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, equities analysts anticipate that Waystar will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at approximately $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Waystar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WAY. Canada Pension Plan Investment Board bought a new position in shares of Waystar in the second quarter valued at approximately $800,003,000. Deerfield Management Company L.P. Series C acquired a new stake in Waystar during the 2nd quarter valued at $106,468,000. TPG GP A LLC bought a new position in Waystar in the 2nd quarter valued at $85,910,000. American Century Companies Inc. acquired a new position in Waystar in the second quarter worth $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Waystar in the second quarter valued at $27,950,000.

Waystar Company Profile

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