KeyCorp Upgrades Waystar (NASDAQ:WAY) to Strong-Buy

Waystar (NASDAQ:WAY) was upgraded by stock analysts at KeyCorp to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of Waystar in a research note on Thursday, April 30th. JPMorgan Chase & Co. decreased their price target on shares of Waystar from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Thursday, April 30th. Wall Street Zen cut shares of Waystar from a “buy” rating to a “hold” rating in a research report on Sunday, May 24th. Bank of America dropped their price objective on shares of Waystar from $45.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, April 10th. Finally, Morgan Stanley started coverage on shares of Waystar in a research report on Monday, March 30th. They issued an “equal weight” rating and a $28.00 target price on the stock. Four investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $35.36.

Waystar Trading Up 9.5%

Shares of WAY opened at $23.46 on Wednesday. Waystar has a 52-week low of $17.26 and a 52-week high of $41.47. The business’s fifty day moving average is $20.24 and its 200-day moving average is $24.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.76 and a current ratio of 1.76. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 35.01, a PEG ratio of 0.84 and a beta of 0.08.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.03. The business had revenue of $313.87 million during the quarter, compared to the consensus estimate of $311.74 million. Waystar had a return on equity of 6.99% and a net margin of 10.90%.Waystar’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.32 EPS. Waystar has set its FY 2026 guidance at 1.590-1.680 EPS. Equities analysts anticipate that Waystar will post 1.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Root Financial Partners LLC boosted its position in shares of Waystar by 6,475.0% during the 1st quarter. Root Financial Partners LLC now owns 1,052 shares of the company’s stock valued at $25,000 after purchasing an additional 1,036 shares in the last quarter. Essential Partners LLC increased its holdings in Waystar by 1,432.7% in the first quarter. Essential Partners LLC now owns 1,548 shares of the company’s stock worth $37,000 after purchasing an additional 1,447 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Waystar by 6,005.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company’s stock worth $38,000 after purchasing an additional 1,141 shares in the last quarter. Danske Bank A S acquired a new position in Waystar in the fourth quarter valued at approximately $52,000. Finally, EverSource Wealth Advisors LLC lifted its stake in Waystar by 3,219.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after buying an additional 1,352 shares during the period.

Waystar Company Profile

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.