Waystar (NASDAQ:WAY) Price Target Raised to $33.00

Waystar (NASDAQ:WAY) had its price objective hoisted by Canaccord Genuity Group from $30.00 to $33.00 in a report released on Monday morning, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

WAY has been the topic of several other reports. Citigroup reaffirmed a “buy” rating on shares of Waystar in a report on Monday, July 20th. Wells Fargo & Company cut their target price on shares of Waystar from $36.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $39.00 price target on shares of Waystar in a research report on Friday, July 31st. Wolfe Research raised shares of Waystar to an “outperform” rating in a research note on Thursday, August 13th. Finally, Truist Financial lowered their price objective on shares of Waystar from $38.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, August 13th. Three analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.52.

Waystar Trading Down 0.2%

Shares of Waystar stock opened at $25.72 on Monday. Waystar has a twelve month low of $17.26 and a twelve month high of $41.47. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $23.33 and a 200-day moving average price of $22.74. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 36.74, a PEG ratio of 1.00 and a beta of 0.16.

Waystar (NASDAQ:WAY) last posted its earnings results on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The company had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Equities research analysts anticipate that Waystar will post 1.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Matthew J. Hawkins sold 60,038 shares of the stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the sale, the chief executive officer owned 1,835,081 shares in the company, valued at approximately $45,895,375.81. This represents a 3.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Waystar in the second quarter valued at $292,000. California State Teachers Retirement System boosted its stake in shares of Waystar by 1,898.9% during the 2nd quarter. California State Teachers Retirement System now owns 2,813,062 shares of the company’s stock worth $57,752,000 after purchasing an additional 2,672,333 shares during the period. Wedmont Private Capital purchased a new position in shares of Waystar during the 2nd quarter worth about $1,292,000. Wellington Management Group LLP grew its holdings in Waystar by 23.1% during the 2nd quarter. Wellington Management Group LLP now owns 793,481 shares of the company’s stock valued at $16,290,000 after purchasing an additional 148,846 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in Waystar during the 2nd quarter valued at about $259,000.

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.