Waystar (NASDAQ:WAY) Stock Price Up 5.5% – What’s Next?

Waystar Holding Corp. (NASDAQ:WAY)’s share price rose 5.5% during trading on Tuesday . The stock traded as high as $33.10 and last traded at $33.09. Approximately 408,204 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 908,909 shares. The stock had previously closed at $31.37.

Analysts Set New Price Targets

WAY has been the topic of several research reports. Royal Bank of Canada boosted their price target on shares of Waystar from $31.00 to $34.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their price target on shares of Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, August 19th. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Waystar from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Bank of America boosted their price objective on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Ten investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $32.90.

Waystar Stock Up 4.5 %

The company has a 50-day moving average of $29.21. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. The company had revenue of $240.10 million during the quarter, compared to analysts’ expectations of $223.82 million. Waystar’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, research analysts anticipate that Waystar Holding Corp. will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Waystar

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

About Waystar

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