Waystar (NASDAQ:WAY) Price Target Raised to $50.00 at Canaccord Genuity Group

Waystar (NASDAQ:WAY) had its price target raised by Canaccord Genuity Group from $42.00 to $50.00 in a research note published on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. 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 research report on Friday, November 22nd. The Goldman Sachs Group raised their price target on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Jefferies Financial Group started coverage on Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 price objective for the company. Royal Bank of Canada lifted their target price on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Evercore ISI boosted their target price on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $40.36.

Waystar Price Performance

Waystar stock opened at $42.35 on Monday. The stock has a 50-day simple moving average of $39.55 and a 200-day simple moving average of $32.43. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $48.11.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. As a group, research analysts forecast that Waystar will post 0.39 EPS for the current year.

Insider Buying and Selling

In other Waystar news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven M. Oreskovich sold 16,666 shares of Waystar stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 173,642 shares of the company’s stock, valued at approximately $5,884,727.38. This represents a 8.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,189,923 shares of company stock valued at $519,588,636 over the last quarter.

Institutional Investors Weigh In On Waystar

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

About Waystar

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