Waystar (NASDAQ:WAY) Stock Price Expected to Rise, Barclays Analyst Says

Waystar (NASDAQ:WAY) had its price target boosted by Barclays from $42.00 to $50.00 in a research note released on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Evercore ISI increased their price objective on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Waystar in a report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective on the stock. Bank of America increased their price objective on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective on the stock in a report on Friday, November 22nd. Finally, The Goldman Sachs Group increased their price objective on shares of Waystar from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Waystar has a consensus rating of “Buy” and an average target price of $39.64.

Waystar Price Performance

Waystar stock opened at $42.21 on Wednesday. The firm’s 50-day moving average is $39.14 and its 200-day moving average is $31.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. Waystar has a 1 year low of $20.26 and a 1 year high of $48.11.

Waystar (NASDAQ:WAY) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (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 the consensus estimate of $232.29 million. As a group, research analysts forecast that Waystar will post 0.39 earnings per share for the current year.

Insider Buying and Selling at Waystar

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

Hedge Funds Weigh In On Waystar

Hedge funds have recently made changes to their positions in the business. M&T Bank Corp grew its stake in shares of Waystar by 116.6% in the 3rd quarter. M&T Bank Corp now owns 63,746 shares of the company’s stock worth $1,778,000 after purchasing an additional 34,316 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Waystar by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock worth $37,531,000 after purchasing an additional 96,552 shares during the last quarter. Barclays PLC grew its stake in shares of Waystar by 701.7% in the 3rd quarter. Barclays PLC now owns 64,934 shares of the company’s stock worth $1,811,000 after purchasing an additional 56,834 shares during the last quarter. State Street Corp acquired a new position in shares of Waystar in the third quarter worth about $16,816,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Waystar in the third quarter worth about $10,224,000.

Waystar Company Profile

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