The Goldman Sachs Group Issues Positive Forecast for Waystar (NASDAQ:WAY) Stock Price

Waystar (NASDAQ:WAY) had its price target hoisted by equities research analysts at The Goldman Sachs Group from $39.00 to $44.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 19.08% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Royal Bank of Canada boosted their price objective on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Evercore ISI upped their price objective on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Raymond James upgraded Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 22nd. Bank of America increased 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. Finally, Canaccord Genuity Group lifted their price objective on shares of Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $35.10.

Waystar Stock Down 1.4 %

Waystar stock opened at $36.95 on Tuesday. The business has a 50 day moving average of $33.54. 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 has a one year low of $20.26 and a one year high of $38.35.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. The firm had revenue of $240.10 million for the quarter, compared to the consensus estimate of $223.82 million. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts forecast that Waystar will post 0.03 EPS for the current fiscal year.

Insider Activity

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Institutional Trading of Waystar

Several hedge funds and other institutional investors have recently made changes to their positions in WAY. American Century Companies Inc. bought a new position in shares of Waystar in the second quarter worth approximately $28,357,000. Federated Hermes Inc. bought a new position in Waystar in the 2nd quarter valued at approximately $430,000. Canada Pension Plan Investment Board purchased a new stake in Waystar during the 2nd quarter valued at $800,003,000. Sei Investments Co. bought a new stake in shares of Waystar in the 2nd quarter worth $1,435,000. Finally, Magnetar Financial LLC purchased a new position in shares of Waystar in the second quarter worth $2,495,000.

About Waystar

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