Waystar (NASDAQ:WAY) Price Target Raised to $50.00

Waystar (NASDAQ:WAY) had its target price lifted by Canaccord Genuity Group from $42.00 to $50.00 in a report issued on Monday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently commented on WAY. Royal Bank of Canada lifted their target price on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Bank of America lifted their price target on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Jefferies Financial Group assumed coverage on Waystar in a research report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective for the company. Evercore ISI lifted their target price on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Barclays increased their price target on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and an average target price of $40.36.

Waystar Stock Performance

Shares of WAY opened at $42.35 on Monday. Waystar has a 52-week low of $20.26 and a 52-week high of $48.11. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average is $39.55 and its two-hundred day moving average is $32.43.

Waystar (NASDAQ:WAY) last issued its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.11. The company had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. Equities analysts predict that Waystar will post 0.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Paul G. Moskowitz sold 5,652,689 shares of Waystar stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $38.60, for a total value of $218,193,795.40. Following the completion of the transaction, the director now owns 22,327,728 shares in the company, valued at $861,850,300.80. The trade was a 20.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the transaction, the insider now owns 29,692,286 shares of the company’s stock, valued at $1,187,691,440. This trade represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,189,923 shares of company stock worth $519,588,636 over the last three months.

Institutional Investors Weigh In On Waystar

Several institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in Waystar in the fourth quarter valued at $25,000. Cerity Partners LLC increased its holdings in shares of Waystar by 1.5% in the 3rd quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after acquiring an additional 699 shares during the last quarter. RiverPark Advisors LLC raised its position in shares of Waystar by 25.5% during the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock worth $128,000 after acquiring an additional 710 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Waystar by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock worth $901,000 after purchasing an additional 960 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Waystar by 1.8% in the fourth quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company’s stock valued at $1,985,000 after purchasing an additional 964 shares in 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.