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

Waystar (NASDAQ:WAY) had its price objective hoisted by investment analysts at Bank of America from $36.00 to $43.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 14.67% from the company’s current price.

Several other research analysts have also recently issued reports on WAY. The Goldman Sachs Group raised their target price on shares of Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Raymond James raised 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. Evercore ISI raised their target price on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada boosted their price target on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group raised their price objective on shares of Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $34.60.

Waystar Stock Performance

NASDAQ:WAY opened at $37.50 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. Waystar has a 12 month low of $20.26 and a 12 month high of $38.35. The business’s fifty day moving average is $32.84.

Waystar (NASDAQ:WAY) last posted its quarterly 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 firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. The company’s revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts predict that Waystar will post 0.03 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the completion of the sale, the chief financial officer now directly owns 173,642 shares in the company, valued at $5,884,727.38. This represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On Waystar

A number of institutional investors have recently added to or reduced their stakes in WAY. TD Asset Management Inc purchased a new position in Waystar during the second quarter worth about $1,633,000. American Century Companies Inc. purchased a new stake in shares of Waystar during the second quarter worth approximately $28,357,000. Federated Hermes Inc. acquired a new stake in shares of Waystar in the 2nd quarter valued at $430,000. Canada Pension Plan Investment Board acquired a new stake in Waystar in the second quarter valued at $800,003,000. Finally, Sei Investments Co. acquired a new position in shares of Waystar during the 2nd quarter worth about $1,435,000.

Waystar Company Profile

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