Waystar Holding Corp. (NASDAQ:WAY) Given Average Recommendation of “Buy” by Analysts

Waystar Holding Corp. (NASDAQ:WAY) has been assigned an average rating of “Buy” from the thirteen brokerages that are covering the company, Marketbeat.com reports. Twelve research analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $40.50.

WAY has been the subject of several research reports. Truist Financial set a $50.00 price target on Waystar and gave the company a “buy” rating in a report on Wednesday, May 7th. Barclays reduced their price target on Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Canaccord Genuity Group reduced their target price on Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Jefferies Financial Group started coverage on Waystar in a report on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price for the company. Finally, The Goldman Sachs Group boosted their target price on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th.

Waystar Stock Down 2.8%

Shares of Waystar stock opened at $38.20 on Friday. The firm has a market cap of $6.61 billion and a price-to-earnings ratio of 424.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. Waystar has a 52-week low of $20.26 and a 52-week high of $48.11. The stock has a 50-day simple moving average of $37.87 and a 200-day simple moving average of $37.17.

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

Insiders Place Their Bets

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $313,532.28. Following the transaction, the chief technology officer now directly owns 438,044 shares of the company’s stock, valued at $15,927,279.84. The trade was a 1.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Paul G. Moskowitz sold 5,652,689 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $38.60, for a total value of $218,193,795.40. Following the sale, the director now owns 22,327,728 shares in the company, valued at approximately $861,850,300.80. This represents a 20.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,668,604 shares of company stock valued at $837,583,386 in the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

Institutional investors and hedge funds have recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in shares of Waystar during the fourth quarter valued at approximately $25,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Waystar during the fourth quarter valued at approximately $48,000. State of Wyoming bought a new stake in shares of Waystar during the first quarter valued at approximately $54,000. Quarry LP bought a new stake in shares of Waystar during the first quarter valued at approximately $60,000. Finally, Gen Wealth Partners Inc bought a new stake in shares of Waystar during the fourth quarter valued at approximately $92,000.

Waystar Company Profile

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