Waystar (NASDAQ:WAY) Stock Gets Price Target Trim from TD Cowen

Waystar (NASDAQ:WAY) had its target price decreased by TD Cowen from $42.00 to $39.00 in a report issued on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

Other equities research analysts have also issued research reports about the stock. UBS Group decreased their price objective on shares of Waystar from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Truist Financial dropped their target price on shares of Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Thursday, August 13th. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of Waystar in a research report on Wednesday, August 26th. Barclays cut shares of Waystar from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $27.00 to $30.00 in a research note on Tuesday, September 15th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Waystar in a research note on Thursday, August 27th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Waystar presently has an average rating of “Moderate Buy” and an average target price of $35.23.

Waystar Price Performance

Waystar stock opened at $28.88 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.85 and a current ratio of 2.10. The firm has a market cap of $5.56 billion, a P/E ratio of 41.86, a P/E/G ratio of 1.20 and a beta of 0.11. The business’s fifty day moving average is $26.48 and its two-hundred day moving average is $23.95. Waystar has a 52 week low of $17.26 and a 52 week high of $37.51.

Waystar (NASDAQ:WAY) last announced its earnings results on Monday, November 2nd. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Waystar had a return on equity of 6.91% and a net margin of 10.70%. The company had revenue of $325.62 million during the quarter, compared to analyst estimates of $323.43 million. During the same period last year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. Equities research analysts forecast that Waystar will post 1.47 earnings per share for the current fiscal year.

Insider Transactions at Waystar

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $26.23, for a total transaction of $2,163,975.00. Following the transaction, the chief executive officer directly owned 1,804,794 shares in the company, valued at approximately $47,339,746.62. This represents a 4.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 247,500 shares of company stock worth $6,370,499. Corporate insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Waystar

A number of institutional investors and hedge funds have recently modified their holdings of the business. WoodTrust Financial Corp increased its stake in shares of Waystar by 262.9% in the 3rd quarter. WoodTrust Financial Corp now owns 57,700 shares of the company’s stock valued at $1,462,000 after acquiring an additional 41,800 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Waystar in the 2nd quarter valued at approximately $58,960,000. Clarkston Capital Partners LLC acquired a new stake in shares of Waystar in the 1st quarter valued at approximately $22,917,000. Bain Capital Venture Investors LLC bought a new position in Waystar during the 2nd quarter worth approximately $18,127,271. Finally, Hsbc Holdings PLC bought a new position in Waystar during the 1st quarter worth approximately $5,625,000.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software designed to simplify administrative and financial processes across the healthcare industry. Its platform connects healthcare providers, health plans and patients, helping organizations manage revenue cycle operations and improve the flow of information and payments.

The company’s products and services include electronic claims management, eligibility and benefits verification, prior authorization, payment integrity, denial management, patient estimates and payments, billing automation, and healthcare analytics.