Waystar (NASDAQ:WAY) Price Target Raised to $52.00

Waystar (NASDAQ:WAY) had its price target boosted by The Goldman Sachs Group from $44.00 to $52.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 23.04% from the company’s current price.

WAY has been the subject of several other research reports. Royal Bank of Canada lifted their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Jefferies Financial Group began coverage on shares of Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective for the company. Barclays boosted their target price on Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America boosted their price objective on Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Canaccord Genuity Group increased their target price on Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $39.64.

Waystar Price Performance

NASDAQ:WAY opened at $42.26 on Wednesday. Waystar has a 52 week low of $20.26 and a 52 week high of $48.11. The company has a 50-day moving average of $38.64 and a 200-day moving average of $31.67. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. As a group, research analysts forecast that Waystar will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total transaction of $564,810.74. Following the transaction, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at $5,884,727.38. This represents a 8.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Institutional Investors Weigh In On Waystar

A number of institutional investors have recently added to or reduced their stakes in WAY. Global Retirement Partners LLC purchased a new stake in Waystar during the 4th quarter worth about $25,000. Amalgamated Bank purchased a new position in Waystar during the 3rd quarter valued at about $41,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Waystar during the fourth quarter valued at about $48,000. Smithfield Trust Co bought a new position in shares of Waystar in the third quarter valued at approximately $68,000. Finally, RiverPark Advisors LLC purchased a new stake in Waystar in the 3rd quarter worth approximately $78,000.

About Waystar

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