Waystar (NASDAQ:WAY) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Waystar (NASDAQ:WAY) had its price objective raised by The Goldman Sachs Group from $44.00 to $52.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 26.83% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of Waystar from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Barclays lifted their target price on shares of Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday. Jefferies Financial Group started 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. Evercore ISI lifted their target price on shares of Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Bank of America boosted their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Eleven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Waystar currently has an average rating of “Buy” and an average price target of $39.64.

Waystar Stock Performance

Shares of WAY stock opened at $41.00 on Wednesday. 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 1 year low of $20.26 and a 1 year high of $48.11. The firm has a fifty day moving average price of $38.98 and a 200-day moving average price of $31.82.

Waystar (NASDAQ:WAY) last released its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million for the quarter, compared to analysts’ expectations of $232.29 million. As a group, sell-side analysts anticipate that Waystar will post 0.39 earnings per share for the current year.

Insider Activity

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the sale, the chief financial officer now directly owns 173,642 shares in the company, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Trading of Waystar

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Waystar by 26.8% during the 4th quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company’s stock valued at $183,182,000 after buying an additional 1,054,180 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in Waystar by 2.3% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company’s stock valued at $127,798,000 after purchasing an additional 79,944 shares during the last quarter. Norges Bank bought a new position in Waystar during the 4th quarter valued at about $119,387,000. Fuller & Thaler Asset Management Inc. bought a new position in Waystar during the 4th quarter valued at about $56,804,000. Finally, American Century Companies Inc. grew its holdings in Waystar by 0.4% during the 4th quarter. American Century Companies Inc. now owns 1,476,236 shares of the company’s stock valued at $54,178,000 after purchasing an additional 6,409 shares during the last quarter.

Waystar Company Profile

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