Waystar (NASDAQ:WAY) Price Target Raised to $42.00 at Canaccord Genuity Group

Waystar (NASDAQ:WAY) had its price target increased by investment analysts at Canaccord Genuity Group from $36.00 to $42.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 13.57% from the stock’s previous close.

WAY has been the topic of several other reports. Royal Bank of Canada upped their price objective on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI increased their price target on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. 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 report on Thursday, November 7th. Bank of America boosted their price target on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a research report on Friday, November 22nd. Ten equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $33.50.

Waystar Price Performance

Shares of WAY opened at $36.98 on Friday. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $32.46. Waystar has a one year low of $20.26 and a one year high of $38.35.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. The business’s revenue for the quarter 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 year.

Insider Buying and Selling at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Waystar

A number of institutional investors have recently modified their holdings of WAY. Canada Pension Plan Investment Board acquired a new stake in Waystar in the second quarter valued at about $800,003,000. Deerfield Management Company L.P. Series C acquired a new stake in shares of Waystar in the 2nd quarter valued at approximately $106,468,000. TPG GP A LLC bought a new stake in shares of Waystar during the 2nd quarter valued at approximately $85,910,000. American Century Companies Inc. acquired a new position in Waystar during the 2nd quarter worth approximately $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Waystar in the 2nd quarter valued at approximately $27,950,000.

About Waystar

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