Citigroup Has Lowered Expectations for Waystar (NASDAQ:WAY) Stock Price

Waystar (NASDAQ:WAY) had its price objective decreased by equities research analysts at Citigroup from $49.00 to $46.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 33.33% from the company’s current price.

WAY has been the subject of several other research reports. Barclays reduced their price target on shares of Waystar from $56.00 to $42.00 and set an “overweight” rating for the company in a research report on Monday, December 8th. BMO Capital Markets initiated coverage on Waystar in a report on Thursday, November 13th. They issued an “outperform” rating and a $47.00 target price for the company. Zacks Research cut Waystar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. JMP Securities started coverage on Waystar in a research report on Thursday, September 18th. They set a “market outperform” rating and a $48.00 price objective on the stock. Finally, Needham & Company LLC assumed coverage on Waystar in a research report on Tuesday, November 11th. They issued a “buy” rating and a $46.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $47.21.

Waystar Stock Up 4.3%

NASDAQ:WAY opened at $34.50 on Friday. The firm has a market cap of $6.60 billion, a P/E ratio of 55.65, a P/E/G ratio of 0.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89. Waystar has a fifty-two week low of $29.40 and a fifty-two week high of $48.11. The firm has a 50-day simple moving average of $34.28 and a two-hundred day simple moving average of $36.28.

Insider Activity at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 9,701 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $32.82, for a total transaction of $318,386.82. Following the completion of the sale, the insider owned 474,826 shares of the company’s stock, valued at $15,583,789.32. This represents a 2.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $30.41, for a total transaction of $262,225.43. Following the completion of the transaction, the chief technology officer owned 422,371 shares in the company, valued at $12,844,302.11. This trade represents a 2.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 49,749 shares of company stock worth $1,718,384. 4.10% of the stock is owned by insiders.

Institutional Trading of Waystar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of Waystar by 11.3% during the 1st quarter. Royal Bank of Canada now owns 21,609 shares of the company’s stock worth $808,000 after acquiring an additional 2,195 shares during the last quarter. AQR Capital Management LLC bought a new position in Waystar in the 1st quarter worth $203,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Waystar by 91.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,911 shares of the company’s stock valued at $1,753,000 after purchasing an additional 22,364 shares in the last quarter. NewEdge Advisors LLC bought a new stake in Waystar during the first quarter valued at about $234,000. Finally, Goldman Sachs Group Inc. increased its position in Waystar by 13.4% in the first quarter. Goldman Sachs Group Inc. now owns 747,268 shares of the company’s stock worth $27,918,000 after buying an additional 88,256 shares in the last quarter.

About Waystar

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.