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

Shares of Waystar Holding Corp. (NASDAQ:WAY) shot up 5.5% on Tuesday . The company traded as high as $33.10 and last traded at $33.09. 408,204 shares traded hands during trading, a decline of 55% from the average session volume of 908,909 shares. The stock had previously closed at $31.37.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WAY. Bank of America boosted their target price on Waystar from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Canaccord Genuity Group upped their price objective on Waystar from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on Waystar from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Royal Bank of Canada upped their target price on Waystar from $31.00 to $34.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Evercore ISI upped their target price on Waystar from $32.00 to $36.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Ten investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $32.90.

Waystar Price Performance

The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $29.21.

Waystar (NASDAQ:WAY) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $223.82 million. The company’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts anticipate that Waystar Holding Corp. will post 0.03 EPS for the current fiscal year.

Institutional Investors Weigh In On Waystar

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in shares of Waystar in the third quarter valued at about $41,000. Smithfield Trust Co acquired a new stake in shares of Waystar in the third quarter valued at about $68,000. RiverPark Advisors LLC acquired a new stake in shares of Waystar in the third quarter valued at about $78,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Waystar in the second quarter valued at about $145,000. Finally, Stifel Financial Corp acquired a new stake in shares of Waystar in the third quarter valued at about $204,000.

Waystar Company Profile

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