Waystar (NASDAQ:WAY) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Waystar (NASDAQ:WAY) from an outperform rating to a strong-buy rating in a research note published on Friday, MarketBeat.com reports. They currently have $40.00 price target on the stock.

Several other equities research analysts also recently commented on WAY. The Goldman Sachs Group upped their target price on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI upped their price objective on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Canaccord Genuity Group raised their price objective on shares of Waystar from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada raised their price target on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $32.90.

Waystar Stock Performance

Waystar stock opened at $31.25 on Friday. Waystar has a 52-week low of $20.26 and a 52-week high of $33.25. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. The stock’s 50 day moving average price is $28.49.

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

Institutional Investors Weigh In On Waystar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank bought a new position in shares of Waystar in the third quarter valued at approximately $41,000. Smithfield Trust Co purchased a new position in Waystar in the third quarter worth $68,000. RiverPark Advisors LLC purchased a new position in Waystar in the third quarter worth $78,000. Cubist Systematic Strategies LLC bought a new position in Waystar in the 2nd quarter valued at $145,000. Finally, Stifel Financial Corp purchased a new stake in shares of Waystar during the 3rd quarter valued at $204,000.

About Waystar

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