Waystar (NASDAQ:WAY) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Waystar (NASDAQ:WAY) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $46.00 price target on the stock.

WAY has been the subject of several other reports. Mizuho boosted their price objective on Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Baird R W upgraded Waystar to a “strong-buy” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Waystar in a report on Wednesday, October 8th. Truist Financial lifted their price objective on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Finally, Canaccord Genuity Group set a $54.00 price target on Waystar in a research report on Thursday, October 30th. Four analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $48.15.

Waystar Stock Down 0.2%

Shares of NASDAQ WAY opened at $36.03 on Tuesday. The stock has a fifty day moving average price of $37.70 and a 200 day moving average price of $37.88. The company has a market cap of $6.89 billion, a P/E ratio of 58.11, a P/E/G ratio of 0.55 and a beta of 0.64. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 0.38. Waystar has a 12-month low of $29.29 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY) last released 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 return on equity of 6.83% and a net margin of 10.69%.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. Research analysts anticipate that Waystar will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at Waystar

In related news, CEO Matthew J. Hawkins sold 12,800 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $38.08, for a total value of $487,424.00. Following the transaction, the chief executive officer directly owned 717,474 shares in the company, valued at approximately $27,321,409.92. This trade represents a 1.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric L. (Ric) Sinclair III sold 19,404 shares of Waystar stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $40.03, for a total value of $776,742.12. Following the completion of the transaction, the insider directly owned 474,826 shares in the company, valued at approximately $19,007,284.78. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,490,959 shares of company stock worth $176,072,308 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its holdings in Waystar by 170.4% during the 1st quarter. Victory Capital Management Inc. now owns 178,024 shares of the company’s stock valued at $6,651,000 after purchasing an additional 112,179 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Waystar by 62.1% in the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock valued at $302,263,000 after buying an additional 3,099,211 shares during the period. Jump Financial LLC grew its stake in shares of Waystar by 239.3% during the first quarter. Jump Financial LLC now owns 360,284 shares of the company’s stock worth $13,460,000 after purchasing an additional 254,084 shares during the period. FORA Capital LLC bought a new position in Waystar during the 1st quarter worth approximately $891,000. Finally, Invesco Ltd. lifted its holdings in Waystar by 9,107.1% during the first 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 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.