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

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

WAY has been the topic of a number of other reports. Evercore ISI boosted their price target on Waystar from $32.00 to $36.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada raised their target price on shares of Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Raymond James raised shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Friday, November 22nd. Canaccord Genuity Group boosted their target price on Waystar from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Finally, Bank of America lifted their price objective on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Ten research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Waystar presently has a consensus rating of “Buy” and a consensus target price of $35.10.

Waystar Stock Performance

Shares of WAY opened at $36.95 on Tuesday. Waystar has a 52 week low of $20.26 and a 52 week high of $38.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.29 and a quick ratio of 2.29. The stock has a 50-day moving average of $33.54.

Waystar (NASDAQ:WAY) last issued 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 firm had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $223.82 million. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. Analysts forecast that Waystar will post 0.03 EPS for the current year.

Insider Buying and Selling

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $33.89, for a total transaction of $564,810.74. Following the completion of the sale, the chief financial officer now directly owns 173,642 shares in the company, valued at $5,884,727.38. This represents a 8.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Hedge Funds Weigh In On Waystar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Amalgamated Bank acquired a new stake in shares of Waystar in the 3rd quarter worth $41,000. Smithfield Trust Co acquired a new stake in Waystar in the 3rd quarter worth approximately $68,000. RiverPark Advisors LLC acquired a new position in Waystar during the 3rd quarter valued at approximately $78,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Waystar during the second quarter worth $145,000. Finally, Stifel Financial Corp purchased a new stake in shares of Waystar during the third quarter valued at $204,000.

Waystar Company Profile

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