Waystar (NASDAQ:WAY) Price Target Raised to $34.00 at Royal Bank of Canada

Waystar (NASDAQ:WAY) had its target price increased by Royal Bank of Canada from $31.00 to $34.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

WAY has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. upped their target price on shares of Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 19th. 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 note on Thursday. The Goldman Sachs Group upped their price objective on Waystar from $34.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Bank of America lifted 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. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $31.90.

Waystar Stock Performance

WAY traded down $0.07 during trading on Thursday, hitting $31.62. 2,178,767 shares of the company’s stock traded hands, compared to its average volume of 878,921. Waystar has a 12-month low of $20.26 and a 12-month high of $33.25. The business’s 50 day moving average is $27.57. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.46.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.05. The company had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.25 million. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) earnings per share. Research analysts anticipate that Waystar will post -0.08 earnings per share for the current fiscal year.

Institutional Trading of Waystar

Several institutional investors and hedge funds have recently bought and sold shares of the business. Ghisallo Capital Management LLC purchased a new position in Waystar during the second quarter valued at approximately $12,900,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Waystar in the 2nd quarter valued at $27,950,000. Sculptor Capital LP purchased a new stake in Waystar during the second quarter worth $791,000. Point72 DIFC Ltd acquired a new stake in Waystar during the second quarter valued at $3,935,000. Finally, American Century Companies Inc. purchased a new position in Waystar in the second quarter valued at $28,357,000.

About Waystar

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