Waystar (NASDAQ:WAY) Shares Gap Up Following Analyst Upgrade

Posted by MarketBeat News on Nov 9th, 2024

Shares of Waystar Holding Corp. (NASDAQ:WAY – Get Free Report) gapped up prior to trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $30.00 to $36.00. The stock had previously closed at $29.44, but opened at $31.52. Canaccord Genuity Group currently has a buy rating on the stock. Waystar shares last traded at $31.61, with a volume of 904,023 shares traded.

WAY has been the topic of several other research reports. The Goldman Sachs Group boosted their price objective on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI boosted their price objective on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada upped their price target on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Bank of America upped their price target on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and a consensus target price of $31.90.

Read Our Latest Research Report on WAY

Institutional Trading of Waystar

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank bought a new position in Waystar in the 3rd quarter worth about $41,000. RiverPark Advisors LLC bought a new position in Waystar in the 3rd quarter worth about $78,000. Cubist Systematic Strategies LLC bought a new position in Waystar in the 2nd quarter worth about $145,000. Scientech Research LLC bought a new position in Waystar in the 2nd quarter worth about $289,000. Finally, Federated Hermes Inc. purchased a new position in shares of Waystar in the 2nd quarter worth about $430,000.

Waystar Stock Down 0.2 %

The firm has a fifty day moving average price of $27.57. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.46.

Waystar (NASDAQ:WAY – Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. The company had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.25 million. The company’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.07) earnings per share. As a group, research analysts anticipate that Waystar Holding Corp. will post -0.08 earnings per share for the current fiscal year.