Brokerages Set Waystar Holding Corp. (NASDAQ:WAY) Price Target at $28.90

Shares of Waystar Holding Corp. (NASDAQ:WAY) have earned an average recommendation of “Buy” from the eleven ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eleven analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $28.90.

A number of research firms have commented on WAY. Evercore ISI increased their price objective on shares of Waystar from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. The Goldman Sachs Group assumed coverage on Waystar in a research note on Tuesday, July 2nd. They set a “buy” rating and a $32.00 price objective on the stock. Canaccord Genuity Group began coverage on Waystar in a research report on Tuesday, July 2nd. They issued a “buy” rating and a $30.00 target price for the company. Canaccord Genuity Group assumed coverage on Waystar in a report on Tuesday, July 2nd. They issued a “buy” rating and a $30.00 price target for the company. Finally, Bank of America started coverage on Waystar in a research note on Tuesday, July 2nd. They set a “buy” rating and a $27.00 price objective on the stock.

Waystar Stock Up 1.2 %

Shares of WAY stock opened at $27.33 on Friday. Waystar has a twelve month low of $20.26 and a twelve month high of $28.57. The company has a fifty day moving average price of $24.98.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The business had revenue of $234.50 million for the quarter, compared to analysts’ expectations of $216.25 million. Waystar’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. On average, research analysts predict that Waystar will post -0.08 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board bought a new stake in shares of Waystar during the second quarter valued at approximately $800,003,000. Deerfield Management Company L.P. Series C acquired a new stake in Waystar in the 2nd quarter valued at approximately $106,468,000. TPG GP A LLC bought a new stake in Waystar during the 2nd quarter valued at $85,910,000. American Century Companies Inc. acquired a new position in Waystar during the 2nd quarter worth $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Waystar in the second quarter worth $27,950,000.

About Waystar

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