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

Waystar (NASDAQ:WAY) had its price objective lifted by Canaccord Genuity Group from $36.00 to $42.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group lifted their price target on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Bank of America boosted their price target on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Raymond James upgraded 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. Royal Bank of Canada upped their target price 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 target price on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Waystar has a consensus rating of “Buy” and a consensus price target of $33.50.

Waystar Stock Performance

WAY stock opened at $36.98 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29. The company has a 50-day moving average price of $32.46. Waystar has a 12-month low of $20.26 and a 12-month high of $38.35.

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

Insider Transactions at Waystar

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the sale, the chief financial officer now owns 173,642 shares of the company’s stock, valued at $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 is available at the SEC website.

Institutional Trading of Waystar

Several institutional investors have recently added to or reduced their stakes in WAY. Canada Pension Plan Investment Board purchased a new stake in shares of Waystar during the 2nd quarter valued at about $800,003,000. Deerfield Management Company L.P. Series C bought a new stake in Waystar in the 2nd quarter worth approximately $106,468,000. TPG GP A LLC purchased a new stake in Waystar during the 2nd quarter valued at $85,910,000. ArrowMark Colorado Holdings LLC lifted its holdings in shares of Waystar by 36.5% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock valued at $94,890,000 after buying an additional 909,715 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Waystar by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock worth $37,531,000 after acquiring an additional 96,552 shares during the period.

About Waystar

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