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

Waystar (NASDAQ:WAY - Free Report) had its target price lifted by Canaccord Genuity Group from $42.00 to $50.00 in a research report sent to investors on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research analysts have also recently commented on WAY. Barclays upped their price target on Waystar from $42.00 to $50.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Evercore ISI upped their price objective on shares of Waystar from $32.00 to $36.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Raymond James upgraded 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 boosted their price target on shares of Waystar from $31.00 to $34.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on shares of Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $40.36.

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Waystar Stock Up 0.2 %

NASDAQ WAY traded up $0.10 during trading hours on Monday, reaching $42.45. 1,867,766 shares of the company were exchanged, compared to its average volume of 1,981,441. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. Waystar has a 1 year low of $20.26 and a 1 year high of $48.11. The business's 50 day simple moving average is $39.55 and its 200-day simple moving average is $32.43.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.11. The company had revenue of $244.10 million for the quarter, compared to analysts' expectations of $232.29 million. On average, equities research analysts predict that Waystar will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the completion of the sale, the chief marketing officer now directly owns 43,478 shares in the company, valued at $1,832,597.70. The trade was a 7.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the completion of the transaction, the insider now directly owns 29,692,286 shares in the company, valued at $1,187,691,440. The trade was a 20.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,189,923 shares of company stock valued at $519,588,636.

Institutional Trading of Waystar

A number of hedge funds have recently made changes to their positions in WAY. Global Retirement Partners LLC purchased a new stake in Waystar during the fourth quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Waystar during the 4th quarter valued at about $48,000. Amalgamated Bank purchased a new position in shares of Waystar during the 3rd quarter valued at about $41,000. Smithfield Trust Co bought a new stake in Waystar in the 3rd quarter worth approximately $68,000. Finally, Gen Wealth Partners Inc bought a new stake in Waystar in the 4th quarter worth approximately $92,000.

Waystar Company Profile

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