Royal Bank of Canada Issues Positive Forecast for Waystar (NASDAQ:WAY) Stock Price

Waystar (NASDAQ:WAY) had its target price upped by analysts at Royal Bank of Canada from $31.00 to $34.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 6.22% from the stock’s previous close.

WAY has been the topic of several other reports. Evercore ISI increased their target price on shares of Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Bank of America upped their target price on shares of Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Waystar currently has an average rating of “Buy” and an average target price of $31.90.

Waystar Stock Performance

Shares of WAY traded up $2.57 during mid-day trading on Thursday, hitting $32.01. The stock had a trading volume of 3,163,107 shares, compared to its average volume of 851,863. Waystar has a 52 week low of $20.26 and a 52 week high of $33.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.15 and a quick ratio of 2.15. The stock’s fifty day moving average price is $27.47.

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

Hedge Funds Weigh In On Waystar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank bought a new stake in Waystar during the 3rd quarter valued at approximately $41,000. RiverPark Advisors LLC purchased a new stake in Waystar in the third quarter worth $78,000. Cubist Systematic Strategies LLC bought a new position in Waystar in the second quarter worth $145,000. Scientech Research LLC purchased a new position in Waystar during the second quarter valued at $289,000. Finally, Federated Hermes Inc. bought a new stake in shares of Waystar during the 2nd quarter valued at $430,000.

Waystar Company Profile

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