Bank of America Issues Positive Forecast for Waystar (NASDAQ:WAY) Stock Price

Waystar (NASDAQ:WAY) had its price objective lifted by equities research analysts at Bank of America from $36.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 14.94% from the stock’s current price.

WAY has been the topic of several other reports. Canaccord Genuity Group increased their price objective on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI increased their price target on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research note on Friday, November 22nd. The Goldman Sachs Group increased their target price on Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Royal Bank of Canada raised their target price on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $34.60.

Waystar Stock Up 1.2 %

WAY traded up $0.43 during mid-day trading on Monday, reaching $37.41. The stock had a trading volume of 544,272 shares, compared to its average volume of 861,966. The stock has a fifty day moving average price of $32.46. Waystar has a 52 week low of $20.26 and a 52 week high of $38.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results 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 firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, analysts predict that Waystar will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 173,642 shares of the company’s stock, valued at $5,884,727.38. The trade was a 8.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Waystar

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amalgamated Bank acquired a new position in Waystar during the third quarter worth approximately $41,000. Smithfield Trust Co bought a new stake in Waystar in the 3rd quarter valued at $68,000. RiverPark Advisors LLC acquired a new stake in Waystar during the 3rd quarter valued at $78,000. Cubist Systematic Strategies LLC bought a new position in Waystar during the second quarter worth $145,000. Finally, Stifel Financial Corp acquired a new position in shares of Waystar in the third quarter valued at $204,000.

About Waystar

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