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

Waystar (NASDAQ:WAY) had its target price upped by Bank of America from $27.00 to $32.00 in a report issued on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

WAY has been the subject of several other research reports. William Blair initiated coverage on Waystar in a report on Tuesday, July 2nd. They set an “outperform” rating for the company. 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 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. 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, Raymond James started coverage on shares of Waystar in a report on Tuesday, July 2nd. They issued an “outperform” rating and a $30.00 target price for the company. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $29.90.

Waystar Price Performance

WAY stock opened at $27.59 on Monday. The firm has a 50-day moving average price of $26.80. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $28.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.15 and a current ratio of 2.15.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.25 million. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.07) earnings per share. Equities research analysts forecast 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 modified their holdings of the business. Canada Pension Plan Investment Board bought a new stake in Waystar during the second quarter worth approximately $800,003,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Waystar in the 2nd quarter worth approximately $106,468,000. TPG GP A LLC bought a new position in shares of Waystar during the 2nd quarter valued at approximately $85,910,000. American Century Companies Inc. purchased a new stake in Waystar during the 2nd quarter valued at $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Waystar in the second quarter worth $27,950,000.

About Waystar

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