Waystar (NASDAQ:WAY) Upgraded by Raymond James to Strong-Buy Rating

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

Several other equities analysts also recently weighed in on the stock. Royal Bank of Canada raised their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group raised their target price on shares of Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Bank of America upped their price target on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Canaccord Genuity Group lifted their price objective on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their target price on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Ten analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $32.90.

Waystar Stock Performance

WAY stock opened at $30.96 on Friday. Waystar has a one year low of $20.26 and a one year high of $33.25. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average price is $28.56.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The business had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. As a group, research analysts expect that Waystar will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Waystar

Institutional investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new position in Waystar in the 3rd quarter valued at approximately $41,000. Smithfield Trust Co acquired a new stake in Waystar in the third quarter valued at $68,000. RiverPark Advisors LLC purchased a new position in shares of Waystar in the third quarter valued at $78,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Waystar in the 2nd quarter worth about $145,000. Finally, Stifel Financial Corp acquired a new stake in Waystar in the 3rd quarter valued at about $204,000.

Waystar Company Profile

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