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

Waystar (NASDAQ:WAY) had its price target cut by Canaccord Genuity Group from $50.00 to $47.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

WAY has been the subject of a number of other reports. The Goldman Sachs Group boosted their target price on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 19th. Bank of America upped their target price on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Jefferies Financial Group began coverage on Waystar in a report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price on the stock. Barclays decreased their price target on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Finally, Truist Financial started coverage on shares of Waystar in a research note on Friday, March 14th. They issued a “buy” rating and a $45.00 price objective on the stock. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $40.08.

Waystar Price Performance

Shares of WAY stock opened at $40.68 on Thursday. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The stock has a 50 day simple moving average of $37.77 and a two-hundred day simple moving average of $36.08. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

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

Insiders Place Their Bets

In related news, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $36.36, for a total transaction of $313,532.28. Following the completion of the transaction, the chief technology officer now owns 438,044 shares in the company, valued at approximately $15,927,279.84. This represents a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $42.15, for a total transaction of $143,310.00. Following the sale, the chief marketing officer now owns 43,478 shares of the company’s stock, valued at $1,832,597.70. This trade represents a 7.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,411,461 shares of company stock valued at $528,743,995.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WAY. Global Retirement Partners LLC bought a new stake in shares of Waystar in the 4th quarter worth approximately $25,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Waystar in the fourth quarter valued at $48,000. Gen Wealth Partners Inc purchased a new position in shares of Waystar during the 4th quarter valued at $92,000. Amalgamated Bank grew its stake in shares of Waystar by 84.1% during the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock worth $101,000 after acquiring an additional 1,241 shares during the period. Finally, KBC Group NV bought a new position in shares of Waystar during the 1st quarter worth $109,000.

Waystar Company Profile

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