Canaccord Genuity Group Forecasts Strong Price Appreciation for Waystar (NASDAQ:WAY) Stock

Waystar (NASDAQ:WAY) had its price objective boosted by stock analysts at Canaccord Genuity Group from $42.00 to $50.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 18.46% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Raymond James upgraded shares of 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. Evercore ISI upped their target price on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Bank of America increased their price target on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Jefferies Financial Group initiated coverage on Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective on the stock. Finally, Royal Bank of Canada raised their target price on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $40.36.

Waystar Stock Performance

Shares of NASDAQ:WAY opened at $42.21 on Monday. The business’s 50 day moving average is $39.14 and its 200 day moving average is $32.11. Waystar has a 12-month low of $20.26 and a 12-month high of $48.11. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last posted its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. As a group, equities analysts predict that Waystar will post 0.39 EPS for the current fiscal year.

Insider Transactions at Waystar

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction 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 sale, the chief financial officer now owns 173,642 shares in the company, valued at $5,884,727.38. This represents a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of Waystar

A number of hedge funds and other institutional investors have recently made changes to their positions in WAY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Waystar during the 4th quarter valued at about $1,309,000. Squarepoint Ops LLC boosted its position in shares of Waystar by 0.8% in the fourth quarter. Squarepoint Ops LLC now owns 201,548 shares of the company’s stock valued at $7,397,000 after acquiring an additional 1,548 shares during the period. Two Sigma Advisers LP purchased a new position in Waystar during the fourth quarter valued at approximately $517,000. Two Sigma Investments LP increased its holdings in Waystar by 652.1% during the 4th quarter. Two Sigma Investments LP now owns 150,186 shares of the company’s stock worth $5,512,000 after acquiring an additional 130,218 shares during the period. Finally, Sig Brokerage LP purchased a new stake in Waystar in the 4th quarter worth approximately $1,015,000.

Waystar Company Profile

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