Waystar (NASDAQ:WAY) Stock Price Expected to Rise, Barclays Analyst Says

Waystar (NASDAQ:WAY) had its price target upped by stock analysts at Barclays from $42.00 to $50.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 21.95% from the company’s previous close.

WAY has been the topic of several other reports. Evercore ISI raised their price target on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. The Goldman Sachs Group lifted their target price on shares of Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Jefferies Financial Group assumed coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price on the stock. Canaccord Genuity Group lifted their target price on shares of Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 22nd. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Waystar presently has an average rating of “Buy” and a consensus target price of $39.64.

Waystar Price Performance

NASDAQ:WAY opened at $41.00 on Wednesday. The company’s 50-day moving average price is $38.98 and its 200-day moving average price is $31.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. Waystar has a twelve month low of $20.26 and a twelve month high of $48.11.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. On average, research analysts expect that Waystar will post 0.39 earnings per share for the current year.

Insider Activity

In related 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 transaction, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WAY. Amalgamated Bank acquired a new position in shares of Waystar in the third quarter valued at approximately $41,000. RiverPark Advisors LLC acquired a new position in shares of Waystar in the third quarter valued at approximately $78,000. Jennison Associates LLC grew its holdings in shares of Waystar by 4.3% in the third quarter. Jennison Associates LLC now owns 1,129,164 shares of the company’s stock valued at $31,492,000 after purchasing an additional 46,264 shares in the last quarter. Smithfield Trust Co acquired a new position in shares of Waystar in the third quarter valued at approximately $68,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Waystar in the third quarter valued at approximately $10,224,000.

About Waystar

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