Waystar (NASDAQ:WAY) Price Target Raised to $44.00 at The Goldman Sachs Group

Waystar (NASDAQ:WAY) had its target price lifted by research analysts at The Goldman Sachs Group from $39.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price suggests a potential upside of 16.74% from the stock’s current price.

Several other brokerages have also issued reports on WAY. Canaccord Genuity Group increased their price target on shares of Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research note on Friday, November 22nd. Royal Bank of Canada lifted 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. Evercore ISI upped their price target on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, Bank of America lifted 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. Ten investment 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, the stock presently has an average rating of “Buy” and an average target price of $35.10.

Waystar Price Performance

Waystar stock opened at $37.69 on Tuesday. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $38.35. The stock’s 50 day simple moving average is $33.71 and its two-hundred day simple moving average is $28.46. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The firm had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. The business’s revenue was up 21.7% compared to the same quarter last year. As a group, equities analysts forecast that Waystar will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In related 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 directly owns 173,642 shares of the company’s stock, valued at $5,884,727.38. This trade represents a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hedge Funds Weigh In On Waystar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp raised its holdings in shares of Waystar by 116.6% during the third quarter. M&T Bank Corp now owns 63,746 shares of the company’s stock valued at $1,778,000 after purchasing an additional 34,316 shares during the last quarter. JPMorgan Chase & Co. grew its position in Waystar by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock worth $37,531,000 after purchasing an additional 96,552 shares during the period. Ghisallo Capital Management LLC purchased a new stake in Waystar during the 2nd quarter valued at $12,900,000. Barclays PLC lifted its holdings in shares of Waystar by 701.7% during the 3rd quarter. Barclays PLC now owns 64,934 shares of the company’s stock valued at $1,811,000 after buying an additional 56,834 shares during the period. Finally, State Street Corp purchased a new position in shares of Waystar in the 3rd quarter worth $16,816,000.

About Waystar

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