Waystar (NASDAQ:WAY) Shares Gap Up Following Analyst Upgrade

Waystar Holding Corp. (NASDAQ:WAYGet Free Report)’s share price gapped up prior to trading on Thursday after Canaccord Genuity Group raised their price target on the stock from $30.00 to $36.00. The stock had previously closed at $29.44, but opened at $31.52. Canaccord Genuity Group currently has a buy rating on the stock. Waystar shares last traded at $31.61, with a volume of 904,023 shares changing hands.

A number of other brokerages have also commented on WAY. Royal Bank of Canada lifted their price target on Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price target on Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. The Goldman Sachs Group lifted their price target on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI lifted their price target on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Bank of America boosted their target price on Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $31.90.

Check Out Our Latest Research Report on WAY

Institutional Investors Weigh In On Waystar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Ghisallo Capital Management LLC bought a new stake in shares of Waystar in the 2nd quarter valued at about $12,900,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Waystar in the 2nd quarter valued at about $27,950,000. Sculptor Capital LP bought a new position in Waystar during the 2nd quarter valued at approximately $791,000. Point72 DIFC Ltd bought a new position in Waystar during the 2nd quarter valued at approximately $3,935,000. Finally, American Century Companies Inc. bought a new position in Waystar during the 2nd quarter valued at approximately $28,357,000.

Waystar Trading Up 7.7 %

The stock’s 50-day moving average is $27.47. 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 (NASDAQ:WAYGet Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The business had revenue of $234.50 million for the quarter, compared to the consensus estimate of $216.25 million. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.07) EPS. On average, equities research analysts forecast that Waystar Holding Corp. will post -0.08 earnings per share for the current fiscal year.

Waystar Company Profile

(Get Free Report)

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

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