Waystar (NASDAQ:WAY) Stock Price Expected to Rise, Bank of America Analyst Says

Waystar (NASDAQ:WAY) had its target price increased by Bank of America from $36.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 14.67% from the stock’s previous close.

A number of other research firms also recently commented on WAY. Evercore ISI boosted 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. Canaccord Genuity Group lifted their price objective on Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a report on Friday, November 22nd. Royal Bank of Canada raised their target price on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group lifted their price objective on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Ten equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $34.60.

Waystar Stock Performance

Shares of WAY stock opened at $37.50 on Monday. 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 has a 52-week low of $20.26 and a 52-week high of $38.35. The firm has a 50-day moving average of $32.84.

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

Insider Buying and Selling

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the sale, the chief financial officer now owns 173,642 shares in the company, valued at approximately $5,884,727.38. The trade was a 8.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Investors Weigh In On Waystar

Institutional investors have recently bought and sold shares of the business. Cerity Partners LLC grew its position in Waystar by 1.5% in the third quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after acquiring an additional 699 shares in the last quarter. Amalgamated Bank purchased a new position in Waystar in the 3rd quarter valued at about $41,000. Smithfield Trust Co purchased a new position in Waystar in the 3rd quarter valued at about $68,000. RiverPark Advisors LLC acquired a new stake in shares of Waystar during the third quarter valued at about $78,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Waystar in the second quarter worth about $145,000.

About Waystar

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