Waystar (NASDAQ:WAY) Price Target Raised to $35.00

Waystar (NASDAQ:WAY) had its target price increased by Truist Financial from $33.00 to $35.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on WAY. Royal Bank Of Canada restated an “outperform” rating on shares of Waystar in a report on Tuesday, September 15th. Weiss Ratings upgraded Waystar from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Canaccord Genuity Group increased their price objective on Waystar from $33.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group cut their target price 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. Finally, BMO Capital Markets restated an “outperform” rating on shares of Waystar in a report 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $35.23.

Waystar Price Performance

Shares of Waystar stock traded down $0.53 during trading on Wednesday, hitting $28.35. 1,269,321 shares of the stock traded hands, compared to its average volume of 2,013,104. 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 stock has a market cap of $5.44 billion, a price-to-earnings ratio of 41.09, a PEG ratio of 1.10 and a beta of 0.11. The firm’s fifty day moving average is $26.54 and its 200-day moving average is $23.94. Waystar has a 52 week low of $17.26 and a 52 week high of $37.51.

Waystar (NASDAQ:WAY) last released its earnings results on Monday, November 2nd. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $325.62 million for the quarter, compared to analyst estimates of $323.43 million. Waystar had a net margin of 10.70% and a return on equity of 6.95%. The firm’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. Research analysts expect that Waystar will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling at Waystar

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

Hedge Funds Weigh In On Waystar

Institutional investors have recently added to or reduced their stakes in the company. 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 worth $1,462,000 after acquiring an additional 41,800 shares in the last quarter. Jupiter Topco LLC purchased a new position in Waystar during the 2nd quarter valued at about $58,960,000. Clarkston Capital Partners LLC bought a new stake in Waystar during the first quarter worth about $22,917,000. Bain Capital Venture Investors LLC bought a new stake in Waystar during the second quarter worth about $18,127,271. Finally, Hsbc Holdings PLC purchased a new stake in Waystar in the first quarter worth about $5,625,000.

Waystar Company Profile

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.