Canaccord Genuity Group Lowers Waystar (NASDAQ:WAY) Price Target to $47.00

Waystar (NASDAQ:WAY) had its price objective cut by equities research analysts at Canaccord Genuity Group from $50.00 to $47.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 15.54% from the stock’s current price.

Several other equities research analysts also recently weighed in on WAY. Bank of America increased their price target on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Truist Financial started coverage on shares of Waystar in a research report on Friday, March 14th. They issued a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group started coverage on Waystar in a research report on Tuesday, February 11th. They set a “buy” rating and a $51.00 target price on the stock. Barclays reduced their price target on Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group raised their target price on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.08.

Waystar Price Performance

Shares of NASDAQ WAY opened at $40.68 on Thursday. The business has a 50-day moving average price of $37.77 and a 200 day moving average price of $36.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. Waystar has a 52-week low of $20.26 and a 52-week high of $48.11.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.32. The business had revenue of $256.44 million for the quarter, compared to analyst estimates of $248.47 million. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts predict that Waystar will post 0.39 EPS for the current year.

Insider Activity at Waystar

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total value of $313,532.28. Following the completion of the sale, the chief technology officer now directly owns 438,044 shares of the company’s stock, valued at approximately $15,927,279.84. The trade was a 1.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $1,696,812.12. Following the transaction, the chief executive officer now directly owns 500,000 shares in the company, valued at approximately $18,180,000. This represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,411,461 shares of company stock valued at $528,743,995.

Hedge Funds Weigh In On Waystar

Several institutional investors have recently added to or reduced their stakes in the business. Jane Street Group LLC acquired a new position in shares of Waystar during the 3rd quarter valued at about $539,000. Barclays PLC raised its stake in Waystar by 701.7% during the third quarter. Barclays PLC now owns 64,934 shares of the company’s stock worth $1,811,000 after purchasing an additional 56,834 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Waystar by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,345,687 shares of the company’s stock valued at $37,531,000 after purchasing an additional 96,552 shares during the last quarter. CHURCHILL MANAGEMENT Corp purchased a new stake in shares of Waystar during the 4th quarter valued at $1,905,000. Finally, Perpetual Ltd purchased a new position in shares of Waystar in the 4th quarter worth $558,000.

Waystar Company Profile

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