Canaccord Genuity Group Raises Waystar (NASDAQ:WAY) Price Target to $42.00

Waystar (NASDAQ:WAY - Get Free Report) had its target price increased by stock analysts at Canaccord Genuity Group from $36.00 to $42.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would indicate a potential upside of 13.57% from the company's previous close.

WAY has been the topic of a number of other research reports. Royal Bank of Canada boosted their price objective on Waystar from $31.00 to $34.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Bank of America raised their price objective on shares of Waystar from $27.00 to $32.00 and gave the company a "buy" rating in a research report on Monday, October 14th. The Goldman Sachs Group boosted their target price on shares of Waystar from $34.00 to $39.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Evercore ISI lifted their price target on shares of Waystar from $32.00 to $36.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, Raymond James upgraded 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. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $33.50.

Waystar Stock Performance

WAY stock traded up $1.03 on Friday, reaching $36.98. The company's stock had a trading volume of 893,415 shares, compared to its average volume of 1,030,307. Waystar has a 52 week low of $20.26 and a 52 week high of $38.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. The business has a fifty day simple moving average of $32.27.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.03. The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. The business's quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts anticipate that Waystar will post 0.03 EPS for the current year.

Insiders Place Their Bets

In other Waystar news, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $33.89, for a total value 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 $5,884,727.38. The trade was a 8.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WAY. Amalgamated Bank acquired a new position in Waystar in the 3rd quarter valued at $41,000. Smithfield Trust Co acquired a new stake in shares of Waystar in the third quarter valued at about $68,000. RiverPark Advisors LLC bought a new position in shares of Waystar in the third quarter worth about $78,000. Cubist Systematic Strategies LLC acquired a new position in shares of Waystar during the 2nd quarter worth about $145,000. Finally, Stifel Financial Corp bought a new stake in Waystar during the 3rd quarter valued at approximately $204,000.

About Waystar

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