Waystar Holding Corp. (NASDAQ:WAY) Given Consensus Recommendation of “Buy” by Brokerages

Waystar Holding Corp. (NASDAQ:WAY) has earned an average recommendation of “Buy” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Ten analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $32.90.

WAY has been the subject of several research reports. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Friday, November 22nd. The Goldman Sachs Group lifted their price target on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America upped their price objective 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 target price on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price target on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

Waystar Stock Performance

Shares of Waystar stock opened at $37.06 on Tuesday. 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 has a twelve month low of $20.26 and a twelve month high of $38.35. The firm’s 50-day moving average price is $31.54.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $223.82 million. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. Sell-side analysts expect that Waystar will post 0.03 EPS for the current year.

Insider Transactions at Waystar

In other news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction on Thursday, December 12th. The shares were 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 directly owns 173,642 shares in the company, valued at approximately $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Waystar

Hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in Waystar during the 2nd quarter valued at about $800,003,000. Deerfield Management Company L.P. Series C acquired a new position in Waystar in the 2nd quarter worth approximately $106,468,000. TPG GP A LLC purchased a new position in Waystar during the 2nd quarter worth approximately $85,910,000. American Century Companies Inc. acquired a new stake in Waystar during the 2nd quarter valued at approximately $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Waystar in the 2nd quarter valued at $27,950,000.

Waystar Company Profile

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