Bank of America Increases Waystar (NASDAQ:WAY) Price Target to $32.00

Waystar (NASDAQ:WAY) had its price objective raised by investment analysts at Bank of America from $27.00 to $32.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 16.03% from the company’s current price.

Several other research firms have also recently weighed in on WAY. Evercore ISI boosted their price objective on Waystar from $27.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Canaccord Genuity Group initiated coverage on shares of Waystar in a report on Tuesday, July 2nd. They issued a “buy” rating and a $30.00 price target on the stock. William Blair began coverage on shares of Waystar in a report on Tuesday, July 2nd. They set an “outperform” rating for the company. The Goldman Sachs Group began coverage on shares of Waystar in a research note on Tuesday, July 2nd. They issued a “buy” rating and a $32.00 target price on the stock. Finally, Canaccord Genuity Group assumed coverage on shares of Waystar in a research note on Tuesday, July 2nd. They set a “buy” rating and a $30.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $29.90.

Waystar Trading Down 0.6 %

Shares of WAY stock opened at $27.58 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a 50-day moving average price of $26.60. Waystar has a one year low of $20.26 and a one year high of $28.57.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.05. The firm had revenue of $234.50 million during the quarter, compared to analysts’ expectations of $216.25 million. During the same quarter last year, the business posted ($0.07) EPS. The company’s quarterly revenue was up 19.6% on a year-over-year basis. On average, sell-side analysts forecast that Waystar will post -0.08 EPS for the current year.

Institutional Investors Weigh In On Waystar

Several institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new stake in shares of Waystar in the second quarter worth about $145,000. Scientech Research LLC bought a new stake in Waystar during the 2nd quarter worth approximately $289,000. Federated Hermes Inc. purchased a new stake in Waystar in the 2nd quarter worth approximately $430,000. SG Americas Securities LLC bought a new position in Waystar in the 3rd quarter valued at $717,000. Finally, Sculptor Capital LP purchased a new position in shares of Waystar during the 2nd quarter valued at $791,000.

Waystar Company Profile

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