Waystar (NASDAQ:WAY) Price Target Raised to $34.00

Waystar (NASDAQ:WAY) had its target price lifted by equities researchers at Royal Bank of Canada from $31.00 to $34.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would indicate a potential upside of 6.22% from the stock’s current price.

WAY has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price target on shares of Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Evercore ISI upped their price objective on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America boosted their target price on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, The Goldman Sachs Group boosted 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. Eleven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $31.90.

Waystar Stock Performance

Shares of NASDAQ WAY traded up $2.57 during mid-day trading on Thursday, reaching $32.01. 3,163,107 shares of the company were exchanged, compared to its average volume of 851,863. 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 twelve month low of $20.26 and a twelve month high of $33.25. The firm’s 50-day moving average is $27.47.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $234.50 million for the quarter, compared to the consensus estimate of $216.25 million. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.07) earnings per share. On average, sell-side analysts anticipate that Waystar will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Amalgamated Bank purchased a new stake in Waystar in the 3rd quarter valued at about $41,000. RiverPark Advisors LLC bought a new stake in Waystar during the third quarter worth $78,000. Cubist Systematic Strategies LLC purchased a new position in Waystar in the second quarter worth $145,000. Scientech Research LLC bought a new position in Waystar in the 2nd quarter valued at $289,000. Finally, Federated Hermes Inc. purchased a new stake in shares of Waystar during the 2nd quarter valued at $430,000.

Waystar Company Profile

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