Waystar (NASDAQ:WAY) Earns Buy Rating from Analysts at Citigroup

Citigroup started coverage on shares of Waystar (NASDAQ:WAY) in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm issued a buy rating and a $45.00 price target on the stock.

A number of other equities analysts have also recently issued reports on WAY. TD Cowen upgraded shares of Waystar to a “strong-buy” rating in a research report on Thursday, June 5th. Truist Financial set a $50.00 price target on shares of Waystar and gave the company a “buy” rating in a research report on Wednesday, May 7th. Canaccord Genuity Group reduced their target price on shares of Waystar from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Barclays cut their price target on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Thirteen equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $40.85.

Waystar Trading Up 1.2%

NASDAQ WAY opened at $39.76 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.12 and a quick ratio of 3.12. The firm’s fifty day moving average price is $38.98 and its 200 day moving average price is $38.67. The company has a market capitalization of $6.88 billion and a price-to-earnings ratio of 441.83. Waystar has a 12 month low of $20.26 and a 12 month high of $48.11.

Waystar (NASDAQ:WAY) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Waystar had a net margin of 2.67% and a return on equity of 3.10%. The company had revenue of $256.44 million for the quarter, compared to the consensus estimate of $248.47 million. Waystar’s revenue was up 14.1% compared to the same quarter last year. On average, sell-side analysts expect that Waystar will post 0.39 earnings per share for the current fiscal year.

Insider Activity at Waystar

In other news, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total value of $1,696,812.12. Following the completion of the sale, the chief executive officer now directly owns 500,000 shares of the company’s stock, valued at $18,180,000. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $40.22, for a total transaction of $390,214.44. Following the completion of the sale, the insider now directly owns 490,870 shares of the company’s stock, valued at $19,742,791.40. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,684,024 shares of company stock worth $325,277,756 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC grew its stake in shares of Waystar by 64.0% in the first quarter. Voya Investment Management LLC now owns 20,302 shares of the company’s stock worth $758,000 after acquiring an additional 7,925 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Waystar by 88.1% in the first quarter. Rhumbline Advisers now owns 113,177 shares of the company’s stock valued at $4,228,000 after buying an additional 53,021 shares during the last quarter. Strs Ohio bought a new stake in Waystar during the 1st quarter worth about $1,564,000. Intech Investment Management LLC raised its holdings in Waystar by 94.9% during the 1st quarter. Intech Investment Management LLC now owns 36,622 shares of the company’s stock worth $1,368,000 after purchasing an additional 17,830 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Waystar by 380.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 171,338 shares of the company’s stock valued at $6,401,000 after acquiring an additional 135,661 shares during 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.