Waystar Holding Corp. (NASDAQ:WAY) Receives Consensus Rating of “Buy” from Brokerages

Shares of Waystar Holding Corp. (NASDAQ:WAY) have earned an average recommendation of “Buy” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $42.3077.

A number of brokerages have issued reports on WAY. Canaccord Genuity Group cut their price target on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Citigroup began coverage on shares of Waystar in a report on Wednesday, June 25th. They issued a “buy” rating and a $45.00 price target on the stock. Truist Financial raised their price target on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Mizuho began coverage on shares of Waystar in a report on Monday, June 30th. They issued an “outperform” rating and a $48.00 price target on the stock. Finally, TD Cowen raised shares of Waystar to a “strong-buy” rating in a report on Thursday, June 5th.

Waystar Price Performance

Shares of NASDAQ:WAY opened at $34.83 on Wednesday. The stock has a market cap of $6.07 billion, a PE ratio of 72.56, a PEG ratio of 0.65 and a beta of 0.79. The company’s fifty day moving average is $38.21 and its 200 day moving average is $38.81. Waystar has a 52 week low of $21.49 and a 52 week high of $48.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.39.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The company had revenue of $270.65 million for the quarter, compared to analysts’ expectations of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.04 EPS. Research analysts anticipate that Waystar will post 0.39 earnings per share for the current year.

Insider Activity at Waystar

In related news, CEO Matthew J. Hawkins sold 46,667 shares of the business’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $38.26, for a total transaction of $1,785,479.42. Following the sale, the chief executive officer owned 764,131 shares of the company’s stock, valued at $29,235,652.06. The trade was a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider T. Craig Bridge sold 85,000 shares of the business’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the sale, the insider directly owned 682,843 shares in the company, valued at $25,326,646.87. The trade was a 11.07% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,778,726 shares of company stock worth $328,889,968. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Waystar

Several hedge funds have recently bought and sold shares of the business. Versor Investments LP bought a new stake in Waystar during the second quarter worth about $1,029,000. Strs Ohio raised its holdings in Waystar by 64.2% in the second quarter. Strs Ohio now owns 68,774 shares of the company’s stock worth $2,811,000 after buying an additional 26,900 shares during the last quarter. Keybank National Association OH purchased a new position in Waystar in the second quarter worth about $207,000. Jennison Associates LLC raised its holdings in Waystar by 48.1% in the second quarter. Jennison Associates LLC now owns 849,677 shares of the company’s stock worth $34,726,000 after buying an additional 275,902 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in Waystar by 1.7% in the second quarter. Peregrine Capital Management LLC now owns 294,914 shares of the company’s stock worth $12,053,000 after buying an additional 4,796 shares during the last quarter.

About Waystar

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