Canaccord Genuity Group Forecasts Strong Price Appreciation for Waystar (NASDAQ:WAY) Stock

Waystar (NASDAQ:WAY) had its price target hoisted by Canaccord Genuity Group from $30.00 to $36.00 in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

WAY has been the subject of a number of other research reports. Royal Bank of Canada lifted their target price on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday. Bank of America upped their target price on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Evercore ISI boosted their price target on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their price target on shares of Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $31.90.

Waystar Price Performance

NASDAQ:WAY opened at $31.62 on Thursday. The company’s fifty day simple moving average is $27.65. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.46. Waystar has a 1-year low of $20.26 and a 1-year high of $33.25.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share 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 analyst estimates of $223.82 million. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. Analysts predict that Waystar will post -0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Peregrine Capital Management LLC bought a new position in shares of Waystar in the second quarter worth about $9,010,000. TD Asset Management Inc bought a new stake in Waystar during the 2nd quarter valued at approximately $1,633,000. American Century Companies Inc. acquired a new stake in Waystar in the 2nd quarter valued at approximately $28,357,000. Federated Hermes Inc. bought a new position in Waystar in the 2nd quarter worth approximately $430,000. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Waystar during the second quarter worth approximately $800,003,000.

Waystar Company Profile

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