Waystar (NASDAQ:WAY) Rating Increased to Strong-Buy at Raymond James

Raymond James upgraded shares of Waystar (NASDAQ:WAY) from an outperform rating to a strong-buy rating in a research note released on Friday morning, MarketBeat.com reports. Raymond James currently has $40.00 price objective on the stock.

Several other analysts also recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Waystar from $27.00 to $31.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Bank of America raised their target price on shares of Waystar from $27.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, October 14th. 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. Finally, The Goldman Sachs Group raised their target price on shares of Waystar from $34.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Ten analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Waystar has a consensus rating of “Buy” and a consensus price target of $32.90.

Waystar Stock Performance

Shares of WAY stock opened at $31.25 on Friday. Waystar has a one year low of $20.26 and a one year high of $33.25. The company’s fifty day moving average price is $28.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.29.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.14 EPS 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 the consensus estimate of $223.82 million. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. Equities research analysts predict that Waystar will post 0.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Waystar

A number of large investors have recently made changes to their positions in WAY. Canada Pension Plan Investment Board purchased a new position in shares of Waystar during the 2nd quarter worth about $800,003,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Waystar during the 2nd quarter worth about $106,468,000. TPG GP A LLC purchased a new position in shares of Waystar during the 2nd quarter worth about $85,910,000. American Century Companies Inc. purchased a new position in shares of Waystar during the 2nd quarter worth about $28,357,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Waystar during the 2nd quarter worth about $27,950,000.

Waystar Company Profile

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