Waystar (NASDAQ:WAY) Price Target Raised to $51.00

Waystar (NASDAQ:WAY) had its target price boosted by Truist Financial from $50.00 to $51.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the company. Citigroup assumed coverage on Waystar in a research note on Wednesday, June 25th. They issued a “buy” rating and a $45.00 price objective on the stock. Barclays cut their price objective on Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 14th. Canaccord Genuity Group lowered 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. TD Cowen upgraded Waystar to a “strong-buy” rating in a report on Thursday, June 5th. Finally, Mizuho started coverage on Waystar in a report on Monday, June 30th. They issued an “outperform” rating and a $48.00 target price for the company. Twelve investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $42.31.

Waystar Stock Performance

Waystar stock opened at $36.70 on Thursday. Waystar has a 12-month low of $20.74 and a 12-month high of $48.11. The company has a quick ratio of 3.12, a current ratio of 3.12 and a debt-to-equity ratio of 0.39. The business’s 50-day moving average price is $38.96 and its two-hundred day moving average price is $38.91. The stock has a market cap of $6.39 billion and a PE ratio of 407.82.

Waystar (NASDAQ:WAY) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. Waystar had a return on equity of 3.10% and a net margin of 2.67%. The firm had revenue of $256.44 million for the quarter, compared to analyst estimates of $248.47 million. Waystar’s revenue was up 14.1% compared to the same quarter last year. As a group, analysts expect that Waystar will post 0.39 earnings per share for the current fiscal year.

Insider Transactions at Waystar

In related news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total transaction of $379,930.32. Following the sale, the insider owned 490,870 shares of the company’s stock, valued at approximately $19,222,469.20. This represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the firm’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $37.39, for a total value of $153,723,638.23. Following the completion of the sale, the insider directly owned 25,580,929 shares in the company, valued at approximately $956,470,935.31. The trade was a 13.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,684,024 shares of company stock worth $325,377,374 over the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Waystar

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new position in Waystar during the 4th quarter worth approximately $119,387,000. Vanguard Group Inc. grew its position in Waystar by 62.1% during the 1st quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock worth $302,263,000 after acquiring an additional 3,099,211 shares during the last quarter. Invesco Ltd. grew its position in Waystar by 9,107.1% during the 1st quarter. Invesco Ltd. now owns 2,040,285 shares of the company’s stock worth $76,225,000 after acquiring an additional 2,018,125 shares during the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in Waystar during the 4th quarter worth approximately $56,804,000. Finally, Farallon Capital Management LLC purchased a new stake in Waystar in the 4th quarter worth approximately $49,251,000.

Waystar Company Profile

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