Waystar (NASDAQ:WAY) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Waystar (NASDAQ:WAY) from a hold rating to a buy rating in a research note issued to investors on Friday.

A number of other brokerages have also issued reports on WAY. Mizuho started coverage on shares of Waystar in a report on Monday, June 30th. They set an “outperform” rating and a $48.00 price objective for the company. Citizens Jmp assumed coverage on Waystar in a research report on Thursday, September 18th. They set a “mkt outperform” rating and a $48.00 target price for the company. TD Cowen upgraded Waystar to a “strong-buy” rating in a research report on Thursday, June 5th. Truist Financial boosted their price target on shares of Waystar from $50.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Finally, Baird R W upgraded Waystar to a “strong-buy” rating in a research note on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Waystar has a consensus rating of “Buy” and a consensus price target of $45.14.

Waystar Stock Up 1.1%

Shares of NASDAQ WAY opened at $38.64 on Friday. 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 has a 52 week low of $26.85 and a 52 week high of $48.11. The firm’s fifty day moving average is $36.92 and its 200 day moving average is $37.79. The company has a market cap of $6.73 billion, a price-to-earnings ratio of 80.50, a PEG ratio of 0.70 and a beta of 0.69.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.03. The firm 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 company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, equities research analysts expect that Waystar will post 0.39 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Steven M. Oreskovich sold 16,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $40.49, for a total transaction of $674,806.34. Following the transaction, the chief financial officer owned 354,512 shares in the company, valued at $14,354,190.88. This trade represents a 4.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Paul G. Moskowitz sold 4,295,139 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $39.21, for a total value of $168,412,400.19. Following the transaction, the director owned 13,759,910 shares in the company, valued at $539,526,071.10. This represents a 23.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,677,917 shares of company stock worth $182,939,156. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its stake in Waystar by 2.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company’s stock worth $549,000 after buying an additional 304 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Waystar by 5.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock worth $289,000 after buying an additional 348 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Waystar by 50.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock valued at $44,000 after purchasing an additional 358 shares during the last quarter. State of Wyoming grew its stake in shares of Waystar by 45.1% in the 2nd quarter. State of Wyoming now owns 2,098 shares of the company’s stock valued at $86,000 after purchasing an additional 652 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Waystar in the 2nd quarter valued at approximately $33,000.

About Waystar

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