Waystar (NASDAQ:WAY) Stock Price Expected to Rise, Citigroup Analyst Says

Waystar (NASDAQ:WAY) had its price objective upped by Citigroup from $47.00 to $49.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 36.68% from the company’s previous close.

Several other analysts also recently commented on WAY. Barclays began coverage on Waystar in a research note on Tuesday, October 14th. They set an “overweight” rating and a $50.00 price objective for the company. Baird R W upgraded shares of Waystar to a “strong-buy” rating in a research report on Friday, September 5th. JMP Securities began coverage on shares of Waystar in a research report on Thursday, September 18th. They set a “market outperform” rating and a $48.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waystar in a report on Wednesday, October 8th. Finally, Canaccord Genuity Group set a $54.00 price target on shares of Waystar in a report on Thursday. Three equities 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. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $46.43.

Waystar Price Performance

WAY stock opened at $35.85 on Friday. The business has a 50 day simple moving average of $37.81 and a 200-day simple moving average of $37.86. The company has a market capitalization of $6.86 billion, a P/E ratio of 57.82, a PEG ratio of 0.65 and a beta of 0.69. Waystar has a twelve month low of $28.27 and a twelve month high of $48.11. The company has a current ratio of 3.89, a quick ratio of 3.43 and a debt-to-equity ratio of 0.38.

Waystar (NASDAQ:WAY) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The firm had revenue of $268.65 million during the quarter, compared to analysts’ expectations of $256.12 million. Waystar had a net margin of 10.69% and a return on equity of 6.83%. Waystar’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 EPS. Waystar has set its FY 2025 guidance at 1.460-1.470 EPS. As a group, equities analysts anticipate that Waystar will post 0.39 EPS for the current year.

Insider Activity

In other news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $36.94, for a total transaction of $358,354.94. Following the sale, the insider owned 474,826 shares of the company’s stock, valued at $17,540,072.44. The trade was a 2.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven M. Oreskovich sold 16,666 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $40.49, for a total value of $674,806.34. Following the completion of the transaction, the chief financial officer directly owned 354,512 shares of the company’s stock, valued at $14,354,190.88. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,546,249 shares of company stock valued at $177,987,193 in the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in WAY. PNC Financial Services Group Inc. boosted its position in shares of Waystar by 2.1% in 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 in the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Waystar by 5.2% in the second quarter. Verdence Capital Advisors LLC now owns 7,076 shares of the company’s stock valued at $289,000 after purchasing an additional 348 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Waystar by 50.6% in the second 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. BCS Private Wealth Management Inc. grew its position in shares of Waystar by 8.4% in the third quarter. BCS Private Wealth Management Inc. now owns 7,455 shares of the company’s stock valued at $283,000 after purchasing an additional 575 shares during the last quarter. Finally, Carnegie Investment Counsel increased its stake in shares of Waystar by 9.4% during the 3rd quarter. Carnegie Investment Counsel now owns 7,002 shares of the company’s stock worth $266,000 after purchasing an additional 600 shares in the last quarter.

Waystar Company Profile

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