Waystar Holding Corp. (NASDAQ:WAY) Stock Has Average Price Target of $34.67 According to Analysts

Waystar Holding Corp. (NASDAQ:WAY) has been given a consensus recommendation of “Moderate Buy” by the twenty-four research firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $34.67.

A number of brokerages have recently weighed in on WAY. UBS Group cut their price objective on Waystar from $37.00 to $33.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Waystar in a report on Tuesday, September 15th. Truist Financial dropped their target price on Waystar from $38.00 to $33.00 and set a “buy” rating on the stock in a research report on Thursday, August 13th. Canaccord Genuity Group increased their price target on shares of Waystar from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, August 31st. Finally, KeyCorp reissued an “overweight” rating on shares of Waystar in a research report on Friday, July 31st.

Insider Activity at Waystar

In other Waystar news, CEO Matthew Hawkins sold 82,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $26.23, for a total value of $2,163,975.00. Following the completion of the transaction, the chief executive officer directly owned 1,804,794 shares of the company’s stock, valued at approximately $47,339,746.62. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 247,500 shares of company stock valued at $6,370,499 in the last quarter. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Waystar

Several institutional investors have recently made changes to their positions in WAY. Tidal Investments LLC raised its holdings in Waystar by 127.1% in the 2nd quarter. Tidal Investments LLC now owns 29,070 shares of the company’s stock worth $597,000 after purchasing an additional 16,270 shares during the period. WINTON GROUP Ltd acquired a new stake in Waystar in the second quarter valued at approximately $3,488,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Waystar in the second quarter valued at approximately $292,000. Wedmont Private Capital purchased a new stake in shares of Waystar in the second quarter valued at approximately $1,292,000. Finally, Wellington Management Group LLP increased its position in shares of Waystar by 23.1% in the second quarter. Wellington Management Group LLP now owns 793,481 shares of the company’s stock valued at $16,290,000 after buying an additional 148,846 shares in the last quarter.

Waystar Trading Down 2.4%

NASDAQ:WAY opened at $25.77 on Monday. Waystar has a 12 month low of $17.26 and a 12 month high of $40.35. The firm has a fifty day simple moving average of $24.82 and a 200-day simple moving average of $22.78. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $4.94 billion, a P/E ratio of 36.81, a PEG ratio of 1.03 and a beta of 0.18.

Waystar (NASDAQ:WAY) last released its earnings results on Wednesday, July 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $319.67 million for the quarter, compared to the consensus estimate of $316.21 million. Waystar had a return on equity of 7.03% and a net margin of 11.18%.The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. On average, equities research analysts anticipate that Waystar will post 1.47 earnings per share for the current year.

About Waystar

Waystar Holding Corp. is a healthcare technology company that provides cloud-based software for managing healthcare payments and revenue cycle operations. Its platform connects healthcare providers, payers and patients to help streamline administrative and financial workflows across the healthcare system.

The company’s products and services include eligibility and benefits verification, claims management and submission, prior authorization, payment processing, patient billing, denial management and revenue cycle analytics.