Waystar Holding Corp. (NASDAQ:WAY) Given Average Recommendation of "Buy" by Analysts

Shares of Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) have earned a consensus recommendation of "Buy" from the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $32.90.

Several analysts have recently commented on the stock. Canaccord Genuity Group raised their price objective on shares of Waystar from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Raymond James raised Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 price target on the stock in a report on Friday, November 22nd. Royal Bank of Canada increased their price objective 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. Bank of America upped 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Waystar from $27.00 to $31.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th.

Waystar Stock Performance

Shares of NASDAQ:WAY traded up $0.29 during midday trading on Friday, reaching $30.88. 809,058 shares of the company traded hands, compared to its average volume of 890,161. Waystar has a 12 month low of $20.26 and a 12 month high of $33.25. The business's fifty day moving average price is $28.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $240.10 million for the quarter, compared to analysts' expectations of $223.82 million. The company's revenue for the quarter was up 21.7% on a year-over-year basis. Research analysts predict that Waystar will post 0.03 EPS for the current year.

Institutional Investors Weigh In On Waystar

A number of hedge funds and other institutional investors have recently modified their holdings of WAY. Canada Pension Plan Investment Board acquired a new position in shares of Waystar during the 2nd quarter valued at $800,003,000. Deerfield Management Company L.P. Series C acquired a new stake in Waystar in the second quarter worth approximately $106,468,000. TPG GP A LLC acquired a new stake in Waystar in the 2nd quarter valued at about $85,910,000. ArrowMark Colorado Holdings LLC grew its position in Waystar by 36.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company's stock worth $94,890,000 after buying an additional 909,715 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Waystar during the 2nd quarter worth $28,357,000.

Waystar Company Profile

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