Canaccord Genuity Group Issues Positive Forecast for Waystar (NASDAQ:WAY) Stock Price

Waystar (NASDAQ:WAY) had its price target lifted by Canaccord Genuity Group from $36.00 to $42.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a report on Friday, November 22nd. Evercore ISI raised their price objective on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Bank of America increased their price target on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. The Goldman Sachs Group boosted their price objective on Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada increased their target price on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $33.50.

Waystar Trading Up 2.9 %

Shares of Waystar stock opened at $36.98 on Friday. Waystar has a 1-year low of $20.26 and a 1-year high of $38.35. The stock’s fifty day simple moving average is $32.46. 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 released its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. The company’s revenue was up 21.7% compared to the same quarter last year. As a group, research analysts predict that Waystar will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value of $564,810.74. Following the sale, the chief financial officer now directly owns 173,642 shares in the company, valued at $5,884,727.38. The trade was a 8.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in WAY. JPMorgan Chase & Co. lifted its stake in shares of Waystar by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after purchasing an additional 96,552 shares during the last quarter. Geode Capital Management LLC boosted its stake in Waystar by 697.5% during the third quarter. Geode Capital Management LLC now owns 1,101,424 shares of the company’s stock worth $30,724,000 after buying an additional 963,316 shares during the period. M&T Bank Corp increased its position in Waystar by 116.6% during the third quarter. M&T Bank Corp now owns 63,746 shares of the company’s stock valued at $1,778,000 after acquiring an additional 34,316 shares during the last quarter. Barclays PLC raised its stake in shares of Waystar by 701.7% in the third quarter. Barclays PLC now owns 64,934 shares of the company’s stock valued at $1,811,000 after acquiring an additional 56,834 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Waystar in the 3rd quarter worth about $222,000.

Waystar Company Profile

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