Waystar (NASDAQ:WAY) Price Target Raised to $36.00

Waystar (NASDAQ:WAY) had its price target upped by Canaccord Genuity Group from $30.00 to $36.00 in a report issued on Thursday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Bank of America upped their price objective on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Royal Bank of Canada raised their price objective on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday. The Goldman Sachs Group lifted their price objective on Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Evercore ISI raised their target price on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and an average target price of $31.90.

Waystar Stock Up 1.3 %

Shares of WAY stock traded up $0.42 during mid-day trading on Thursday, hitting $32.11. The stock had a trading volume of 1,297,717 shares, compared to its average volume of 870,687. 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 has a fifty-two week low of $20.26 and a fifty-two week high of $33.25. The company has a 50-day simple moving average of $27.47.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.25 million. During the same quarter in the previous year, the company earned ($0.07) earnings per share. The company’s revenue was up 19.6% on a year-over-year basis. As a group, analysts expect that Waystar will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new position in Waystar during the second quarter valued at about $800,003,000. Deerfield Management Company L.P. Series C bought a new stake in shares of Waystar during the 2nd quarter valued at about $106,468,000. TPG GP A LLC bought a new position in shares of Waystar in the 2nd quarter worth $85,910,000. American Century Companies Inc. bought a new position in shares of Waystar during the 2nd quarter valued at about $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.