Waystar (NASDAQ:WAY) Raised to “Strong-Buy” at Raymond James

Waystar (NASDAQ:WAY) was upgraded by research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, MarketBeat reports. The brokerage currently has a $40.00 price objective on the stock. Raymond James’ price objective suggests a potential upside of 28.45% from the company’s current price.

A number of other equities analysts have also commented on WAY. Royal Bank of Canada increased their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI raised their price target on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Canaccord Genuity Group upped their price objective on Waystar from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.90.

Waystar Stock Up 0.7 %

Waystar stock opened at $31.14 on Friday. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $33.25. The stock has a fifty day moving average price of $28.40. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $223.82 million. The firm’s quarterly revenue was up 21.7% on a year-over-year basis. On average, sell-side analysts expect that Waystar will post 0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Canada Pension Plan Investment Board bought a new position in Waystar in the 2nd quarter worth $800,003,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Waystar during the second quarter valued at about $106,468,000. TPG GP A LLC bought a new position in Waystar in the second quarter worth about $85,910,000. ArrowMark Colorado Holdings LLC lifted its holdings in Waystar by 36.5% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,402,294 shares of the company’s stock worth $94,890,000 after buying an additional 909,715 shares during the period. Finally, American Century Companies Inc. purchased a new stake in Waystar in the second quarter worth about $28,357,000.

Waystar Company Profile

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