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

Waystar Holding Corp. (NASDAQ:WAY)’s stock price gapped up prior to trading on Thursday after Evercore ISI raised their price target on the stock from $32.00 to $36.00. The stock had previously closed at $29.44, but opened at $31.52. Evercore ISI currently has an outperform rating on the stock. Waystar shares last traded at $31.61, with a volume of 904,023 shares trading hands.

A number of other analysts have also recently weighed in on the company. Royal Bank of Canada increased their price objective on Waystar from $27.00 to $31.00 and gave the stock an “outperform” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft increased their price target on Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, August 19th. Finally, Bank of America lifted their target price on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a report on Monday, October 14th. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Waystar has a consensus rating of “Buy” and an average target price of $30.30.

Institutional Trading of Waystar

A number of hedge funds have recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board purchased a new stake in shares of Waystar during the 2nd quarter valued at $800,003,000. Deerfield Management Company L.P. Series C purchased a new stake in Waystar during the second quarter valued at about $106,468,000. TPG GP A LLC acquired a new stake in Waystar during the second quarter worth about $85,910,000. American Century Companies Inc. acquired a new stake in Waystar during the 2nd quarter worth approximately $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Waystar in the 2nd quarter valued at $27,950,000.

Waystar Stock Performance

The firm has a 50 day moving average price of $27.47. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.46.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $234.50 million during the quarter, compared to analyst estimates of $216.25 million. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. Sell-side analysts expect that Waystar Holding Corp. will post -0.08 EPS for the current year.

About Waystar

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