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

Waystar (NASDAQ:WAY) was upgraded by equities research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued on Friday, MarketBeat.com reports. The firm presently has a $40.00 price objective on the stock. Raymond James’ price target indicates a potential upside of 28.00% from the company’s previous close.

Several other research firms also recently weighed in on WAY. Evercore ISI boosted their price target on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft raised their price target on Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Canaccord Genuity Group increased their price objective on Waystar from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada lifted their target price on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $32.90.

Waystar Price Performance

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

Waystar (NASDAQ:WAY) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $223.82 million. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. As a group, analysts expect that Waystar will post 0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Waystar

A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank purchased a new stake in Waystar during the third quarter valued at $41,000. Smithfield Trust Co purchased a new stake in shares of Waystar during the 3rd quarter valued at about $68,000. RiverPark Advisors LLC bought a new position in shares of Waystar in the 3rd quarter valued at about $78,000. Cubist Systematic Strategies LLC purchased a new position in Waystar in the second quarter worth about $145,000. Finally, Stifel Financial Corp bought a new stake in Waystar during the third quarter worth approximately $204,000.

About Waystar

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