Canaccord Genuity Group Issues Positive Forecast for Waystar (NASDAQ:WAY) Stock Price

Waystar (NASDAQ:WAY - Get Free Report) had its price objective hoisted by Canaccord Genuity Group from $30.00 to $36.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 12.46% from the stock's current price.

A number of other analysts have also issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Waystar from $34.00 to $39.00 and gave the stock a "buy" rating in a research note on Thursday. Bank of America raised their target price on Waystar from $27.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, October 14th. 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 research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised their price objective 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, Royal Bank of Canada lifted their price target on Waystar from $31.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $31.90.

Waystar Stock Performance

Shares of NASDAQ:WAY traded up $2.57 during trading on Thursday, reaching $32.01. The stock had a trading volume of 3,163,107 shares, compared to its average volume of 851,863. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.15 and a quick ratio of 2.15. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $33.25. The firm's fifty day moving average is $27.47.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly 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 firm had revenue of $234.50 million for the quarter, compared to analyst estimates of $216.25 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. The business's revenue was up 19.6% compared to the same quarter last year. On average, equities analysts expect that Waystar will post -0.08 EPS for the current year.

Hedge Funds Weigh In On Waystar

Several large investors have recently bought and sold shares of the company. Amalgamated Bank purchased a new stake in shares of Waystar during the 3rd quarter valued at $41,000. RiverPark Advisors LLC purchased a new position in shares of Waystar in the third quarter worth about $78,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Waystar during the second quarter valued at approximately $145,000. Scientech Research LLC bought a new position in shares of Waystar during the second quarter valued at about $289,000. Finally, Federated Hermes Inc. purchased a new stake in Waystar in the second quarter worth about $430,000.

About Waystar

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

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