Morgan Stanley Initiates Coverage on Waystar (NASDAQ:WAY)

Investment analysts at Morgan Stanley began coverage on shares of Waystar (NASDAQ:WAY) in a note issued to investors on Monday. The firm set an “equal weight” rating and a $28.00 price target on the stock. Morgan Stanley’s price target points to a potential upside of 18.95% from the stock’s current price.

A number of other brokerages have also recently commented on WAY. UBS Group began coverage on shares of Waystar in a report on Monday, December 15th. They issued a “buy” rating and a $41.00 price objective for the company. Wells Fargo & Company lowered their target price on shares of Waystar from $41.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Loop Capital set a $33.00 target price on Waystar in a research report on Wednesday, February 18th. The Goldman Sachs Group cut their price target on Waystar from $44.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Finally, Citigroup decreased their price objective on Waystar from $46.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $36.58.

Waystar Price Performance

WAY stock opened at $23.54 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 0.92 and a beta of 0.80. Waystar has a fifty-two week low of $21.13 and a fifty-two week high of $42.55. The stock has a fifty day moving average of $25.49 and a 200-day moving average of $31.95.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Tuesday, February 17th. The company reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). The firm had revenue of $303.54 million during the quarter, compared to the consensus estimate of $294.72 million. Waystar had a net margin of 10.20% and a return on equity of 6.86%. The company’s revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Waystar has set its FY 2026 guidance at 1.590-1.680 EPS. As a group, equities research analysts predict that Waystar will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total transaction of $1,209,968.00. Following the sale, the insider owned 474,826 shares of the company’s stock, valued at approximately $14,282,766.08. This represents a 7.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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. Salomon & Ludwin LLC bought a new stake in Waystar during the third quarter valued at $25,000. ANTIPODES PARTNERS Ltd increased its stake in Waystar by 120.1% in the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 823 shares of the company’s stock worth $31,000 after acquiring an additional 449 shares during the last quarter. First Horizon Corp purchased a new stake in shares of Waystar in the 3rd quarter valued at about $38,000. Smartleaf Asset Management LLC boosted its position in shares of Waystar by 6,005.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,160 shares of the company’s stock valued at $38,000 after acquiring an additional 1,141 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $57,000 after acquiring an additional 1,352 shares during 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.