Waystar (NASDAQ:WAY) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Waystar (NASDAQ:WAY) from an outperform rating to a strong-buy rating in a research note released on Friday, Marketbeat reports. The brokerage currently has $40.00 price target on the stock.

A number of other brokerages have also recently weighed in on WAY. The Goldman Sachs Group upped their price objective on shares of Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Bank of America upped their price objective on shares of Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Evercore ISI upped their price objective on shares of Waystar from $32.00 to $36.00 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $32.90.

Waystar Price Performance

WAY stock opened at $31.25 on Friday. Waystar has a 1 year low of $20.26 and a 1 year high of $33.25. The business has a 50-day moving average of $28.49. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. Waystar’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, sell-side analysts expect that Waystar will post 0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WAY. Peregrine Capital Management LLC bought a new position in Waystar during the second quarter valued at approximately $9,010,000. TD Asset Management Inc bought a new position in Waystar during the second quarter valued at approximately $1,633,000. American Century Companies Inc. bought a new position in Waystar during the second quarter valued at approximately $28,357,000. Federated Hermes Inc. bought a new position in Waystar during the second quarter valued at approximately $430,000. Finally, Canada Pension Plan Investment Board bought a new position in Waystar in the second quarter worth approximately $800,003,000.

About Waystar

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