Waystar (NASDAQ:WAY) Price Target Raised to $50.00

Waystar (NASDAQ:WAY) had its price objective raised by Barclays from $42.00 to $50.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts also recently issued reports on WAY. Bank of America upped their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Raymond James upgraded 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 price objective on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Jefferies Financial Group began coverage on Waystar in a research report on Tuesday, February 11th. They set a “buy” rating and a $51.00 price target on the stock. Finally, Royal Bank of Canada upped their price target on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Waystar currently has a consensus rating of “Buy” and an average target price of $39.64.

Waystar Stock Performance

Shares of Waystar stock opened at $43.86 on Wednesday. The stock has a fifty day simple moving average of $38.84 and a 200 day simple moving average of $31.76. Waystar has a 12-month low of $20.26 and a 12-month high of $48.11. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. Sell-side analysts expect that Waystar will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the 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 sale, the chief financial officer now owns 173,642 shares of the company’s stock, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Hedge Funds Weigh In On Waystar

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC bought a new position in Waystar in the 4th quarter worth about $25,000. Amalgamated Bank bought a new position in Waystar in the 3rd quarter worth about $41,000. Mark Sheptoff Financial Planning LLC bought a new position in Waystar in the 4th quarter worth about $48,000. Smithfield Trust Co bought a new position in Waystar in the 3rd quarter worth about $68,000. Finally, RiverPark Advisors LLC bought a new position in Waystar in the 3rd quarter worth about $78,000.

About Waystar

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