Waystar (NASDAQ:WAY) Price Target Raised to $42.00 at Canaccord Genuity Group

Waystar (NASDAQ:WAY) had its price objective increased by Canaccord Genuity Group from $36.00 to $42.00 in a research note published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other brokerages have also issued reports on WAY. Royal Bank of Canada raised their target price on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. The Goldman Sachs Group lifted their price objective on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Friday, November 22nd. Evercore ISI boosted their price target on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Bank of America increased their price objective on Waystar from $27.00 to $32.00 and gave the stock 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 company. According to MarketBeat, Waystar presently has a consensus rating of “Buy” and an average price target of $33.50.

Waystar Stock Performance

WAY stock opened at $36.98 on Friday. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $38.35. The stock’s 50 day moving average price is $32.27. 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 released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $223.82 million. The company’s quarterly revenue was up 21.7% on a year-over-year basis. Equities analysts anticipate that Waystar will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related 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. The trade was a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Waystar

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

Waystar Company Profile

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