Waystar’s (WAY) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Waystar (NASDAQ:WAY) in a report published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $33.00 price objective on the stock.

Several other research firms also recently commented on WAY. Citigroup reiterated a “buy” rating on shares of Waystar in a research note on Monday, July 20th. Wolfe Research raised Waystar to an “outperform” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $39.00 target price on shares of Waystar in a research note on Friday, July 31st. Wells Fargo & Company dropped their price target on Waystar from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Barclays increased their price objective on Waystar from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $35.39.

Waystar Stock Performance

WAY opened at $26.24 on Wednesday. Waystar has a 52-week low of $17.26 and a 52-week high of $41.47. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.36. The company has a market cap of $5.03 billion, a P/E ratio of 37.49, a price-to-earnings-growth ratio of 0.98 and a beta of 0.06. The firm’s 50-day moving average price is $22.87 and its 200-day moving average price is $22.69.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.40 by $0.03. The firm had revenue of $319.67 million during the quarter, compared to analyst estimates of $316.21 million. Waystar had a net margin of 11.18% and a return on equity of 7.03%. Waystar’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. As a group, equities analysts anticipate that Waystar will post 1.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Waystar news, CEO Matthew J. Hawkins sold 60,038 shares of the stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $25.01, for a total transaction of $1,501,550.38. Following the sale, the chief executive officer directly owned 1,835,081 shares of the company’s stock, valued at approximately $45,895,375.81. This trade represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 3.50% of the company’s stock.

Institutional Trading of Waystar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Root Financial Partners LLC raised its position in Waystar by 6,475.0% during the first quarter. Root Financial Partners LLC now owns 1,052 shares of the company’s stock valued at $25,000 after acquiring an additional 1,036 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Waystar by 6,005.3% in the fourth 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 period. EverSource Wealth Advisors LLC boosted its position in Waystar by 3,219.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $57,000 after purchasing an additional 1,352 shares in the last quarter. Essential Partners LLC boosted its position in Waystar by 1,432.7% in the 1st quarter. Essential Partners LLC now owns 1,548 shares of the company’s stock worth $37,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Waystar during the 4th quarter worth approximately $52,000.

Waystar Company Profile

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.